Long Beach is not close to returning to F1

Long Beach hosted the United States Grand Prix West between 1976 and 1983 but became a recurring event in CART, then in IndyCar from the following season. Today, local leaders have unanimously decided to extend the venture for four more seasons, which is not a surprise after reading Takuma Sato’s statements on the subject.

However, they have still left the door open for a move to F1 starting in 2019 as they have requested proposals to determine whether it would be better to stay in IndyCar or to prioritize another format.

This is all that the founder of the California Grand Prix was asking for, who therefore has four additional years to demonstrate the economic viability of the project. In the columns of the Orange County Register, he stated that his project would cost “only” 10 million dollars, which is significantly less than the figures previously suggested by opponents of the project: « We only want to have the opportunity to demonstrate our viewpoint, to be heard. We just want them to look at what we bring to the table. That’s all we’re asking for. Some have said it was going to cost 100 million dollars. This is a figure that has stuck in people’s minds. It’s very far off the mark. »

He then relies on the very good economic benefits achieved by the Austin Grand Prix for the city and the state of Texas as a whole: The net fiscal gain for Austin in 2013 was $4.9 million, and the net benefit for Texas reached $17.2 million. The interest in F1 is that it brings in new financial resources. F1 attracts a global audience. We would reach new consumers.

As of now, the only remaining new short-term destination for the Formula One Circus in North America is New Jersey, a crucial market that remains largely untapped. But after two consecutive postponements, will this event on the shores of New York truly come to fruition?

With the participation of www.Racingbusiness.fr