BY INFORMATION SECTION
The current contract of the organisers of the Grand Prix of Azerbaijan with the FOM expires in 2020, but in Baku they want to extend the agreement for another five years, reports f1report.ru.
Today, Arif Rahimov, who is the executive director of the Baku City Circuit (BCC), commented on the situation, making it clear that Azerbaijan is unhappy with the current contract. According to him, negotiations on the extension of the contract will begin this year within 3 months after the stage in Baku.
'Now we have a contract, but everyone understands that it is unacceptable,' Rahimov said. 'Obviously, you need to change something, and I think that the leaders of Formula 1 understand this. It's good that representatives of Liberty Media are on contact, so we expect that our negotiations will be successful. We need to agree on the price that we pay, sponsorship rights and commercial terms.
Last year in Baku, a very interesting race was held, so the leaders of Formula 1 want our stage to remain in the calendar of the royal championship. Usually the first contracts are rarely successful, because only after a few years you begin to understand what you really need.
As for our budget, this year we will be able to slightly reduce it. However, the amount of work that we need to do has increased dramatically. I am sure that we will again perfectly cope with all our work.'