Tickets for India’s first F1 race to be available soon

April 25th, 2011 - 8:38 pm ICT by IANS  

New Delhi, April 25 (IANS) Tickets for the India’s first Formula One grand prix race, to be held Oct 30, would go on sale within a month, the organisers said Monday.

“The tickets for the first Indian grand prix race would be available from late May or early June,” Sameer Gaur, managing director, Jaypee Sports International Limited (JPSI), which is constructing the race track at Greater Noida, told reporters at an event to unveil the race track’s logo.

He said the company is still in the process of finalising the cost of tickets for the four different seating categories available in the race track complex.

“The minimum price can start from Rs.2,500 per seat for three days in the general stands to Rs.35,000 per seat for three days in the grandstand,” said Gaur, while adding that the corporate seats can be as high as Rs.1 lakh per seat.

There are about four different seatings divisions for spectators, starting from temporary, temporary with cover, natural and corporate.

Gaur said that they was making all efforts to have a moderate price structure for the seats to attract a higher number of spectators.

“Well, we want everyone including the young enthusiasts not only from Delhi but all over India to come and enjoy this sport. That’s why we are doing everything to make it moderate.”

Tickets would also be available online through the event’s ticketing partners bookmyshow.com, he said.

Gaur said they expected to attract around 15,000 foreign visitors during the F1 race, while the rest of the 95,000 seats would be filled by the home audience.

On the revenue model for the race track complex, which is estimated to incur a total investment of Rs. 1,700 crore, Gaur said that the facility would be used for other motor sports events like motorcycle grand prix races and corporate events.

“Well we have many options in which we can use the facility after F1 race. There will be other motor sports races like Moto-GP, motorbiking, even it can be given for training purposes, corporate events, so there are many options for revenue generation,” he said, adding the company expects to reach the break even stage within 5 years.

“With multiple usage of this infrastructure and facility that can be used for 340 days after the F1 race, I feel the break even would happen within 4 to-5 years time,” said Manoj Gaur, chairman, Jaypee Associates.

Gaur further said that the funding in the project is through equity infusion of Rs.550 crore, followed with debt of Rs.200 crore which are on a long-term basis and the rest through internal accruals.

Meanwhile, the title sponsorship management would be under the F1 administrating company Formula One Management (FOM). JPSI has however retained the revenue management of the race.

The company has signed a five year race lease contract with the international motor sports body Federation Internationale de l’Automobile (FIA) for bring the F1 race to India. The lease can also be extended for another five years.

The race track, designed by well-known German architect Herman Tilke, is expected to be completed by August

Construction of the track has been completed. Focus right now is to finish the internal structures of the civil building which will take approximately 3 months to finish, Sameer gaur said.”

Following are key features of the new race track

- Total cost of project: Rs.1,700 crore ($400 million)
- Length: 5.14 km
- Total seating capacity: 120,000
- Total parking capacity: 15,000 cars
- Distance from Delhi: Around 40 km

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