F1 boss eager to find sponsors for Indian Grand Prix

Bernie Ecclestone, the Formula1(F1) supremo and promoter, has evinced interest in finding a sponsor for the Indian Grand Prix.

In this endeavour, he will be helped by Vicky Chandhok, former president of the Federation of Motor Sports Clubs of India, and Vijay Mallya, owner of the Kingfisher brand.

Ecclestone is expected to announce the year in which India would host the event in the next four months. He is satisfied with the modalities of the proposed street circuit race in New Delhi.

Currently, the cost of acquiring title rights at a circuit hosting F1 is ¤15-30 million (Rs 80-160 crore). These do not include television rights. Each of the 12 teams competing during the year would need at least ¤36 million, which includes the cost of the seven jumbo jets carrying race equipment, large aircraft with close to 300 personnel, security staff and other transportation costs.

"Ecclestone is in constant touch with me and Vijay, regarding the proposed street circuit race in Delhi. It's not a question anymore of whether, it's now a matter of when F1 would enter India, which could be either 2009 or 2010, " Chandhok says.

He adds that Ecclestone wants to bring India into the F1 ring because of the tremendous potential for marketing.

In the last two years, viewership for the sport has gone up eight times in India, says Chandhok.

Things started falling into place in March this year when Sheila Dixit, the chief minister of Delhi expressed support for F1's entry into India after discussions with Vijay Mallya, Public Works Department officials and engineers in the capital.

Reputed independent circuit designer Hermann Tilke then gave more stability to the proposal when he favoured the streets of Delhi around India Gate and Rajendra Prasad road as the ideal place for holding the race.