Formula 1 boss Bernie Ecclestone has reportedly offered to pay for a London Grand Prix, with plans set to be revealed on Thursday.
F1 boss reportedly offers to promote street race
Formula 1 chief Bernie Ecclestone has reportedly offered to pay to stage a London Grand Prix.
According to The Times, Ecclestone is prepared to promote the event. It is reported that the route would pass some of London's most famous landmarks, including Buckingham Palace and Trafalgar Square.
The newspaper, which put the cost of staging the grand prix at £35million, claims marketing experts predict that the race could generate at least £100million for the London economy from spectators and tourists.
Ecclestone, who has long harboured hopes of holding a race in the capital, said: "With the way things are, maybe we would front it and put the money up for it. If we got the okay and everything was fine, I think we could do that...It would be fantastic, good for London, good for England - a lot better than the Olympics."
Plans for a London Grand Prix are set to be unveiled at the Royal Automobile Club on Pall Mall on Thursday night.
Ecclestone, who controls the sport's commercial rights, is scheduled to attend along with F1 stars Jenson Button and Lewis Hamilton.
A four-minute video will highlight the proposed route, with Button and Hamilton then scheduled to go head to head around the track in a 3D CGI simulator.
Proposals for another London race, this time on the Olympic Park site in Stratford, were reported at the weekend.
London Mayor Boris Johnson said he was "broadly positive" about the latest plans as long as air quality and noise issues were addressed.
Speaking as he launched a new cable car system across the River Thames in London today, the Mayor said: "I am always interested in projects that attract jobs and bring growth."
He said it was important to see if there was "a really good economic case" for a London Grand Prix.
Mr Johnson went on: "The question of air quality and noise impact will have to be looked at. I am broadly positive providing we can satisfy the air quality and noise issues."
However, not all of the London Assembly were as positive as the Mayor about a potential F1 race on the streets of London.
Green Party member Darren Johnson said: "Bernie Ecclestone's proposal is a terrible idea at a time when we want to make our streets safer and more pedestrian and cycle friendly.
"Formula 1 should stick to the dedicated race tracks and leave our streets for ordinary Londoners to enjoy. I hope the Mayor joins me in opposing this idea, which is completely unsuitable for London."
