Azad Rahimov, reduces the costs of racing "Formula 1"

Azerbaijan has undertaken to carry out motor racing "Formula 1" for at least  for five years,  stated today  the  Minister of Youth and Sports Azad Rahimov.

According to him, the contract was signed for 10 years, while during the first 5 years  conducting the race is necessary. In the case, if during the first five years Azerbaijan does not hold  the race,  it will have to pay  a fine.  He did not say if in the next 5 years, Azerbaijan will hold a race or not.

The minister said that the competition budget is $12 million – annually fees and organizational costs.

The Minister noted that in this regard will be made a special statement and "nothing will remain secret."

In turn, BBC notes that the statute of racing "Formula 1" provides that the annual amount paid by the organizer of the race, increasing by 10% per year. In the first year of Baku it was 34 million. Dollars, the next year it will be 37 million. Dollars, and so on.

The decision to hold in Azerbaijan Grand Prix, "Formula 1" was made two years ago, when oil was $120 per barrel, while the dollar exchange rate of manat totaled 1: 1.27. Now the price of oil fell to $30, and AZN worth 62 cents, the BBC stresses. Thus, the words  by Rahimov do not coincide  the  data published by the BBC.

On the other hand, the minister did not name the amount of money that will be spent on the road infrastructure for  the racing. -16C06-