Russia Still Hoping for F1 Race

The Russian motorsport association R-Fast is pushing for a renewed bid for a Formula One race in Moscow after their original efforts faded to nothing at the start of this year.

The country has been trying to lure the Grand Prix circus for several years but two aborted projects, including a signed deal with Bernie Ecclestone's commercial rights-holding company Formula One Management (FOM), have crumbled.

But after the arrival of Bahrain and China on the calendar for next year and Turkey in 2005 the association is attempting to convince the Moscow government of the benefits Formula One would bring to the city.

R-Fast said in a statement that more investment is needed to develop the Moscow track but revealed they have "resumed negotiations with Mr Ecclestone's FOM" and are working on a final agreement for a race date.

"The World Championship has increased its international involvement considerably in the last three years," said Igor Yermilin of R-Fast. "The Moscow Government doesn't fully realise the possible impact of the Russian Grand Prix on Moscow.

"By the most conservative estimate, Moscow small and medium business will earn about $80m (US Dollars), part of which will be paid to the city in taxes. The aim is to demonstrate the advantages to them."

Formula One will run up to 18 races next year and there are plenty of events in line to fight for places on the calendar in the future, with South Korea the latest to secure a provisional agreement with Ecclestone.