China 'may withdraw from F1'
Friday, 14 Nov 2008 15:10
China may pull out of its agreement to host a yearly F1 grand prix
A senior Chinese official has claimed the country's government is considering withdrawing from its agreement to host a formula one grand prix next season.
According to a report by the AFP news agency, the deputy director of the Shanghai Administration of Sports Qiu Weichang has said the national administration is still mulling over the possibility of pulling out.
"We're doing the assessment now," Qiu said.
"By next year, we should be able to give you the answer."
China is currently making a loss - believed to be in the region of $50 million (£34 million) - every time it stages the race because of the sport's lack of popularity compared to other pastimes.
But F1 supremo Bernie Ecclestone is known to be keen to persevere with the race in order to tap into the lucrative Asian market.