Formula One boss Ecclestone backs London GP
Source: BI-ME with AFP , Author: Posted by BI-ME staff
Posted: Thu June 28, 2012 11:45 am

INTERNATIONAL. Formula One boss Bernie Ecclestone has offered to stump up £35 million (US$54.5 million) to stage a grand prix around London's famous streets, according to the Times.

The 3.2 mile (5.1 km) route will be unveiled when the full plan is presented later Thursday, but it would take in landmarks including Buckingham Palace and Trafalgar Square, the report said on Thursday.

Organisers estimate 120,000 spectators would flock to the showpiece event -- making it the biggest race on the tour -- and hope the money they would spend would more than cover Formula One's investment.

"Think what it would do for tourism," Ecclestone told the paper.

"It would be fantastic, good for London, good for England -- a lot better than the Olympics," he added.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: April 29, 2016
SAUDI ARABIA. SAGIA announced in early 2016 their plan to focus on priority sectors identified as having a direct impact on economic and human development, including healthcare.
date:Posted: April 29, 2016
INTERNATIONAL. The investment community is significantly more likely than CEOs to consider misaligned performance incentives as a barrier to change: almost half (49%) of investors surveyed in the report flagged this as a major concern compared to only 17% of chief executives.
date:Posted: April 28, 2016
UAE. 51% of all Dubai hotels in mid-market segment versus 89% in New York; PwC research released at ATM 2016 touts construction figure of US$80k per room as incentive for developers looking for solid returns in high demand segment.
dhgate