Formula1 grand prix vrooms into India, finally

India has finally been awarded a Formula One grand prix slot for the 2009 season. Suresh Kalmadi, president of the Indian Olympic Association, said here today that the association had received a letter to this effect from Bernie Ecclestone, CEO of Formula One.

The IOA will be the promoter and the first event will be held in 2009. The IOA will raise the necessary funds through government or private sources.

"Once we move ahead (put all aspects in place), a regular contract would be signed. We are planning to hold the race around New Delhi and we are looking to identify suitable land for a track," Kalmadi added.

India's F1 plans have been in the news over the past few years, with Andhra Pradesh and Chandrababu Naidu coming very close to a full deal.

Reports earlier had also said that UB chief Vijay Mallya, who sponsors the Toyota F1 team with his flagship brand Kingfisher, was working towards hosting a Monaco-style street F1 event in 2009. Mallya had said that the first event was likely to be an exhibition event, but more serious races would evolve out of that.

However, it now seems that F1 supremo Bernie Eccelestone wants to take the world's fastest motorsport series to new heights and India is an important part of that plan.

Just about a month ago, Formula One had announced the addition of Singapore to the 2008 calendar with the first of its kind night-time street race. India, it appears, is the next, and now the latest, addition.

South Korea, reports say, has also been promised a slot in 2010. India's booming economy and young population makes it an attractive place for Formula One.

While a track within the Delhi metropolitan area is next to impossible, the government is looking for suitable land. While F1 tracks range between 4.5 and 6 km in length, which is not much, the actual layout of the track, including spectator facilities, pit garages, hospitality and parking space etc. take up a lot more space.

The Sepang circuit in Malaysia, for instance, was constructed on 2,300 acres (although it includes hotels, a golf course and other non-motorsport related facilities).