India’s Formula-1 track promoters sure of breaking even
August 24th, 2011 - 7:48 pm ICT by IANSNew Delhi, Aug 24 (IANS) The promoters of India’s only Formula-1 race facility, set to host the first-ever Indian Grand Prix in October at their tracks in Noida, are confident of breaking even on their investment in three to four years.
“We are confident in the business,” Jaypee Sports International (JPSI) chief executive Sameer Gaur said Wednesday. “We will reach break-even within three to four years time. Our plans and programmes are on track and progressing as expected.”
JPSI, promoted by Jaypee Group, maintains that it has sold 10,000 tickets ranging from Rs.2,300 to Rs.35,000 since sales began Saturday. “There has been a lot of excitement in the country for the race,” Gaur said. He expects nearly 10,000 foreign visitors.
Gaur said the company was in talks with firms for partnerships like merchandising or sponsorship for other races. “We are talking to Puma for a merchandising deal. We will be shortly making the announcement on that front. We are also in touch with JK Tyres for other races in the year,” Gaur said.
The company Wednesday tied up with luxury car manufacturer Mercedes-Benz, which has now been appointed as the official automobile partner to the Buddh International Circuit. Other major companies such as Airtel and DHL have also become part of the historic event.
“There is huge interest from companies in many sectors to be part of the race and thereafter for other events at the track,” Gaur said. He added that the company was also considering throwing the track open to the public on Saturdays or Sundays after the F-1 event.
- Indian F1 promoters hope to break even in three years - Oct 18, 2011
- Mercedes and Jaypee Sports launch performance driving academy - Jan 04, 2012
- Mercedes to set up driving academy in India - Aug 24, 2011
- 70 percent of tickets for inaugural Indian GP sold - Oct 18, 2011
- Learn the art of speed on F1 race track - Oct 03, 2011
- Ticket sales start for India's first F1 race - Aug 20, 2011
- Mercedes-Benz is official partner of Noida F1 track - Aug 24, 2011
- World Superbike sealed, talks on for Moto GP: Jaypee - Apr 12, 2012
- Tickets for India's first F1 race to be available soon - Apr 25, 2011
- From food joints to helipad - the business of F1 - Oct 23, 2011
- Finishing touches being given to Buddh F1 Circuit - Oct 18, 2011
- F1 fans now have option of buying only race-day ticket - Oct 19, 2011
- Indian GP: Grandstand rates down, general tickets costlier - Apr 10, 2012
- Soon, test your car's horsepower without fear of speeding ticket - Sep 28, 2011
- India to be motorsports hub in South Asia - Oct 31, 2011
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