Ecclestone unsure about London GP funding

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Bernie Ecclestone is unsure whether or not a grand prix in the centre of London is going to happen in the future, but was pleased with yesterday’s news concerning a possible event.

UK Prime Minister David Cameron confirmed yesterday that new parliament legislation would allow more road racing to take place, opening up the possibility of a London Grand Prix that would incorporate landmarks such as Trafalgar Square and Buckingham Palace.

Despite being a supporter of the event, Ecclestone made no secret of his concerns when speaking to Press Association.

“It just depends on what we can come up with commercially because how are we going to fund it?” he questioned.

“The news is good, but I don’t know whether you’d have street racing because it’s not cheap to put on something that’s safe. Street racing is expensive.

“But if they ever get it together then we’ll see what happens. At least it’s a good sign, a step in the right direction.”

Most grands prix are funded either by private investors or the nation’s government. The Singapore Grand Prix has been a huge success for the country’s tourist industry, and it might be possible for the British government to get involved and reap the rewards of its capital hosting a grand prix. With two major airports and great travel links, it could bring hundreds of thousands of fans to the city for the race weekend.

However, as Ecclestone said, there is a very long way to go before the race could go ahead. Nevertheless, it is certainly a lucrative and interesting proposition for the sport and the city of London.