The 2017 Russian Grand Prix will be paid for by private companies. Until now, the state has funded the event which kicked off in 2014, with Russian President and good friend of Bernie Ecclestone Vladimir Putin attending each year.
Reports from Russia are now suggesting that the fee for the Grand Prix this year, which will be paid to the commercial rights holder, will be done by private companies.
Russian deputy prime minister Dmitry Kozak confirmed that the major investors are Lukoil, a major Russian oil company, VTB, a finance bank, and aluminium company Rusal.
"Now the contribution is paid by Lukoil, VTB, Rusal and many other companies. A pool of about ten investors," he said.
Fergal Walsh
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Harryw
Posts: 107
Its terrible that a country that invades its neighbours, found guilty of cheating in many sports and are corrupt as hell can host f1. Dropped when contract expires I hope