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Ecclestone backs London F1 Grand Prix

F1

Formula One boss Bernie Ecclestone has offered to stump up £35 million (R460 million) to stage a Formula One Grand Prix around London's famous streets

The Times reported on Thursday that the 5.1km route will be revealed when the full plan was presented later on Thursday, but it would take in landmarks including Buckingham Palace and Trafalgar Square.

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FILES: A 06 July 2004 picture shows a Jaguar F-1 car manouvering Piccadilly circus in central London. Ford Motor Co's luxury brand Jaguar said 17 September 2004 that it will eliminate around 1,150 jobs at its main British plant in Coventry under a revamp of the prestigious but loss-making division and also announced that they will pull out of Formula One racing from the end of the current season. AFP PHOTO/CARL DE SOUZA

SHOWPIECE EVENT

Organisers estimate 120 000 spectators would flock to the showpiece event - making it the biggest race on the tour - and hope the money they would spend would more than cover Formula One's investment.

“Think what it would do for tourism,” Ecclestone told the paper. “It would be fantastic, good for London, good for England - a lot better than the Olympics.” - AFP

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