05-08-2005, 09:33 PM
A South African business consortium believes it is on the verge of bringing Formula 1 back to the country that lasted hosted a grand prix back in 1993.
The South African F1 bid Company expects to conclude a deal in the next few months with Bernie Ecclestone's Formula One Management, which is responsible for the commercial side of the sport, according to Reuters.
"We hope then to sign a contract with Mr Ecclestone just before the end of the year which will in turn allow us to host the event starting in 2009," said the venture's Dave Gant.
The consortium is hoping to attract government backing to support the bid.
"We have been working on this for about 18 months and each day we get more confident that we are going to pull it off," he added.
"Formula One demonstrably want it to happen, they want it to come here."
"The initial agreement would last from the 2009 to 2015 seasons with an option to renew thereafter.
"All we have to finalise from a South African point of view is the extent to which the government is going to participate in this public-private partnership," he said.
Ecclestone has said previously that he expects F1 to return to the African continent.
"We are going to South Africa - it's not a question of if, it's only when," he said last November.
"There will be a South African Grand Prix hosted by Cape Town within five years."
:f1:
The South African F1 bid Company expects to conclude a deal in the next few months with Bernie Ecclestone's Formula One Management, which is responsible for the commercial side of the sport, according to Reuters.
"We hope then to sign a contract with Mr Ecclestone just before the end of the year which will in turn allow us to host the event starting in 2009," said the venture's Dave Gant.
The consortium is hoping to attract government backing to support the bid.
"We have been working on this for about 18 months and each day we get more confident that we are going to pull it off," he added.
"Formula One demonstrably want it to happen, they want it to come here."
"The initial agreement would last from the 2009 to 2015 seasons with an option to renew thereafter.
"All we have to finalise from a South African point of view is the extent to which the government is going to participate in this public-private partnership," he said.
Ecclestone has said previously that he expects F1 to return to the African continent.
"We are going to South Africa - it's not a question of if, it's only when," he said last November.
"There will be a South African Grand Prix hosted by Cape Town within five years."
:f1: