Exclusive: Ecclestone reveals truth on Indian GP cut
Formula One supremo Bernie Ecclestone has revealed why the Indian grand prix was pulled from next year’s calendar.
In July, Ecclestone told media that the reason the Indian stopover was pulled for 2014 was "very political". Some reports suggested that the dates of the event and India’s tax laws were the reasons behind the exclusion.
Ecclestone exclusively told SportBusiness International: “The trouble in India is a simple one. The rupee has devalued an enormous amount so it is all very political. We won’t be there next year but after that I hope we will go back.”
As of August 30 2013, £1 was worth 105 rupees compared to 88 on the same date last year. It means that the hosting fee paid to Ecclestone now costs the organisers 19.3 per cent more, which explains why the race has been put on hiatus.
Read the full interview with Ecclestone on the future of Formula One in October’s SportBusiness International magazine.