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India agrees to stage F1
New Delhi looks set to host a Formula One Grand Prix from 2009.
Last Modified: 14 Jun 2007 14:01 GMT

Formula One: Coming to New Delhi [GALLO/GETTTY]

The Indian Olympic Association has reached an agreement with Formula One boss Bernie Ecclestone to stage a Grand Prix in New Delhi from 2009.
 
The agreement is preliminary and conditional on having a venue approved by F1, said IOA president Suresh Kalmadi on Thursday.
 
"We have bagged a F1 championship for India," Kalmadi said.
New Delhi does not currently have a motor racing track, but Kalmadi said the IOA, together with the government, would build in or near the Indian capital.
 
He ruled out a street race.
While F1 is not an Olympic event, the IOA is keen to bring as many major sporting events as possible to New Delhi ahead of the city's staging of the 2010 Commonwealth Games.

He said the executive council had ratified the preliminary memorandum
of understanding with Formula One Management (FOM).

The letter from FOM to Kalmadi stipulates the IOA must sign the contract and submit financial guarantees for the event by Sept. 30, 2007.

Source:
Agencies
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