A done deal
Indianapolis Motor Speedway to announce F1 race
Posted: Monday November 30, 1998 04:36 PM
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George: "The difference with us and [the other cities] is that we have everything in place to do a deal tomorrow. No one else does." David Taylor/Allsport |
INDIANAPOLIS (AP) -- The Indianapolis Motor Speedway, once the
exclusive domain of the Indianapolis 500, is expected to add a
Formula One race in 2000.
Speedway president Tony George has scheduled a news conference
for Wednesday amid speculation the international race series would
return to the United States for the first time since 1991.
The Indy 500 was the only race at the Speedway until 1994, when
the Brickyard 400 was added as part of NASCAR's Winston Cup series.
This year, the International Race of Champions also made Indy part
of its season tour.
Spokesman Fred Nation would not confirm a deal had been
finalized, although two months ago he said George and Formula One
president Bernie Ecclestone had met three times this year to
discuss the possibility of bringing a race to the Speedway.
George first submitted a proposal to Ecclestone in March.
At another meeting with Ecclestone in June, George proposed a
multiyear commitment, reportedly calling for the Speedway to put up
$10 million to be the host for the race and spend another $15
million to build a road course in and around the existing 2 1/2-mile
oval track.
Other cities believed to have made bids were San Francisco, Las
Vegas and Atlanta.
"The difference with us and [the other cities] is that we have
everything in place to do a deal tomorrow," George said at that
time. "No one else does."
The only Formula One race in North America now is the Canadian
Grand Prix held in Montreal in June.
The last Formula One race in the United States was at Phoenix in
1991. The series competed at Watkins Glen during the 1960s and '70s
and was joined by a second U.S. Grand Prix in Long Beach, California,
in the mid-'70s.
The Watkins Glen race was moved to the streets of downtown
Detroit in the 1980s, then because of escalating costs, Long Beach
and Detroit switched to Indy-car races and Formula One organized
less successful events in Las Vegas, Dallas and Phoenix.
A U.S. Grand Prix at Indianapolis would require major track
renovations that probably would begin after the 1999 Brickyard 400.
George earlier proposed using the track's existing first and
second turns and most of the front straightaway, although a new
section of track for a road course would have to be built in the
infield. Also, installing the necessary 24 pit-side garages would
require removing a portion of the grandstand behind the existing
pit road.
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