Korea eyes better deal

Wednesday 2nd October 2013

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Korea eyes better deal

Korea eyes better deal

Korean Grand Prix organisers admit they are hoping to land a better deal with commercial rights holder Bernie Ecclestone for the 2014 season.

The Asian country made its Formula One debut in 2010 with the promotors signing a seven-year deal with a further five-year option.

As expected, the Yeongam circuit was included on the 22-race calendar for next year, but its promoter is rating its chances as "fifty-fifty".

The race made a loss of about $26 million in 2012 and there are major doubts over whether or not they will be able to continue at that rate.

Race promoter Won-Hwa Park, though, says they want to stay in F1 providing they get better terms with the sports powers that be.

"We want to improve the current contract with Formula One Management. We are still negotiating with Mr Ecclestone. We wish to have a satisfactory conclusion with Mr Ecclestone," he told Sky Sports News.

Asked what chances he gave the race of taking place beyond this season, Park replied: "I would say 50/50, but we are very much firm in continuously holding this event."

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