Rumour: Formula 1 back to India in 2016

Earlier this year, we had reported that if India is to host a Formula 1 race again, it would be only in 2016 or later. Now, latest media reports suggest that there could be some good news for fans of the sport in the country.

A meeting held at the Russian Grand Prix between Formula 1 chief Bernie Ecclestone and Sameer Gaur, head of Jaypee Sports International has been termed as 'fruitful'. This could signal the return of Formula 1 in India. The two organisations are believed to be working towards honouring the five-year contract and then securing the future of the sport in India. While it is too late to bring the Grand Prix back in 2015, it is certainly not impossible to do so in 2016. The return of the sport, however, is subject to tax and other legal issues being sorted out in time.

Another issue that remains to be addressed is that the Formula 1 calender is overcrowded. 2014 saw 20 races being held and if India is accomodated in the calender along with Azerbaijan, the number could go up to 22.

The Indian Formula 1 Grand Prix was held at the Buddh International Circuit at Greater Noida in Uttar Pradesh, for three consecutive years from 2011 to 2013. However, in India, Formula 1 is classified under entertainment rather than sport. This makes it ineligible to avail of tax concessions for the equipment brought into the country, which led to heavy taxes and duties being levied. This resulted in the event being dropped from the 2014 season. Both, experts and fans feared that the sport may never return to the country.

Source: Indian Express