London Formula One Race Pushed by Bernie Ecclestone
Never one to shy away from speaking his mind, the ever-contraversial Bernie Ecclestone believes a Formula One race would be “fantastic for London, good for England – a lot better than the Olympics.”
And just how badly does Ecclestone want a Formula One race out in London? Bad enough to pony up $55 million of his own money to host a Formula One Grand Prix on the streets of central London. In addition to throwing in his own money into the pot, Ecclestone is willing to waive the Formula One’s fee for sanctioning an event which is $25 million.
A proposed course leaked, showing a 3.2-mile circuit that would have it start and finish on the Mall by St. James Park, while the course would pass famous London landmarks including Hyde Park Corner, Buckingham Palace, Westminster Abbey, the London Eye, Charing Cross Station, and Nelson’s Column. Computer predictions peg the course’s lap time at around 95 seconds with the ability to reach 175-mph top speeds.
And even though the costs associated with doing such an extravagant race is high, conservative estimates says that such a race could produce well over $160 million in revenue – perhaps even two or three times that amount.
Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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