It’s official - India is set to host Formula One in 2009. Does India have the wherewithal to manage a show of this magnitude? Read on to find out what the real odds are. In a couple of years, you may have a new event to plan your India trip around – the Formula One. The Indian Olympic Association (IOA) has received a conditional offer from Bernie Ecclestone, CEO of Formula One, to host the “Racing Olympics” in 2009. But before you start booking your tickets, here is a reality check. What’s going right
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The market: There’s no ignoring India’s booming economy, and the F1 bosses know that. For instance, when Doordarshan telecast F1 live 4 years ago, the viewership was estimated at 60-70 million.
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The sponsors: When Narain Karthikeyan – India’s F1 sensation – hit the tracks, he was backed by Indian sponsors to the extent of USD 10 million. The authorities expect an audience of at least 100,000 for the very first race, and several companies have already expressed interest in sponsoring the event.
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The enthusiasm: The IOA President Suresh Kalmadi seems determined to host the event against all odds. He has started active discussions with the Delhi Chief Minister, Ms. Shiela DIxit, who has approved the construction of the proposed F1 track and stadium in New Delhi. The media and Indian fans too are already gung-ho. But the skeptics say… -
Where are the funds? The estimated initial investment required for Project F1 is USD 100 - 120 million. Even if India manages to raise the funds, critics have been questioning the very idea of holding such expensive events in a developing economy. The fact that India is already hosting the 2010 Commonwealth Games has further fueled the controversy.
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A brand new stadium? Given the time limit of less than 2 years, experts feel that a street circuit would have been more realistic – especially given India’s infrastructural constraints.
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What about logistics? An event like F1 calls for state-of-the-art logistics. The participating cars, equipment, and the organizing team – around 400 people – need to be transported to and from the venue in aircrafts amidst tight security. India will need a lot of support from the airport authorities, immigration staff, and the public.
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And the politics? If everything else works out, there are bureaucratic hurdles, red tapism, and political spoilsports to contend with. Will F1 India 2009 happen? If it does, do you think it is in India’s best interests? Do we need more Indian drivers in the sport, to get the interest and sponsorships going? |
