The F1 made in China… in crisis

The Chinese authorities have announced, through Qiu Weichang, deputy director of the Shanghai city’s sports administration, that they are encountering some problems at the moment. The organization of the Chinese Grand Prix of F1 is under analysis and may be at risk beyond 2010.

« We will proceed with an evaluation. By next year, we should be able to give you an answer, » Qiu Weichang said Thursday evening to AFP.

The first Chinese Grand Prix dates back to 2004, and the cost for the city of Shanghai was $240 million (around €200 million) to bring the Formula 1 circus. However, the event was not as popular as the city had hoped, and the return on investment was unsatisfactory. The loss of the Sinopec sponsor for the 2009 GP doesn’t help.

« We want everyone to be a winner, us and Bernie (Ecclestone) as well as the F1 organizers, with whom Shanghai is under contract (until 2010), » stated the deputy director.

« If it’s a goal that we can achieve, we will consider it… »

« We would like at least to break even, but that will depend on two factors. One, the result related to the evaluation of previous and future races, the other, our ability to create a win-win situation, » he repeated.

Why not organize a night Grand Prix, which was a huge success in Singapore? Qiu simply doesn’t think they have the right criteria: « In Singapore, organizing such an event at night was a good way to attract tourists to a small country. But I think Singapore is Singapore with its specificity, and we have ours, » he estimated.

The Asian continent is meeting with great success among the authorities of the F1 World Championship. After Shanghai, Bahrain, Sepang, and Singapore, South Korea is set to host its first Grand Prix in 2010, and India in 2011, but could they become victims of their own success?!