Korean GP in doubt

Wednesday 21-November-2012 13:10

The future of the Korean Grand Prix appears to be in jeopardy after it recorded big financial losses for the third successive year.

Every year since it was first held in 2010, organisers have recorded figures in the red and it appears that the financial situation may result in the race no longer being held.

A seven-year contract to host the race at the Yeongam circuit was initially agreed, but with organisers reportedly failing to get the race-sanctioning fees reduced the pressure is taking its toll.

"Compared to the boom years, things have become a little harder but we had 103 000 for race day this year," Yoshihisa Ueno press manager for Japan's Suzuka circuit told Reuters.

"Last year with the (tsunami and nuclear) disaster, numbers were down but this year, operation-wise was a successful year."

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