Formula 1

Bernie Ecclestone reveals investment in New Jersey GP

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Amid the on going speculation surrounding the fate of the New Jersey Grand Prix project, it has been revealed F1 itself has invested money to take the sport to the New York skyline.

The New Jersey race was due to take place this year, however, it was pushed back to 2014 after organisational problems, now recent resignations have put the fate of the race into doubt altogether despite the appointment of Long Beach founder Chris Pook.

"Chris has a history of great success in formula one, which I'm confident he'll bring to the grand prix of America race," Ecclestone said earlier this week.

In Barcelona, the F1 supremo continued saying F1 had invested some of its money to ensure a race Ecclestone has always wanted can take place.

"There's no reason why it shouldn't happen," Ecclestone told Reuters on Saturday.

"We've put money behind it to pay a lot of the things off, a lot of their debts," he said, explaining that he will look to recoup the money later.

"We're going to try and make it happen next year."

One possible alternative that is being lined up is a return to Long Beach itself where the current contract with IndyCar expires at the end of this year.

"If we do this (in New Jersey), it (Long Beach) won't (happen)," said the 82-year-old.

The future of Bernie Ecclestone’s reign over Formula 1 could be thrown into doubt, however, as it is reported German prosecutors are close to charging Ecclestone with bribery in relation to the Gerhard Gribkowsky affair.

According to the Suddeutchse Zeitung newspaper a court is due to decide if it to hear the case and if it agrees a trial would quickly follow.

The Financial Times say one way out for Ecclestone would be to negotiate an agreement with the prosecutors, however even that might not save Ecclestone’s position according to one source.

"He would be gone from F1 by the end of the year," the source said.

Ecclestone told Reuters last weekend in Barcelona: "I've not heard from anybody. Let's wait and see what happens."

 

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This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of GiveMeSport.com or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. GiveMeSport.com and SportsNewMedia do not take any responsibility for the content of its contributors.

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