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Russia's Sochi to host Formula 1 races

The document to this effect was signed by Mikhail Kapirulin, general director of the Omega center for the transfer of technology of the construction sector of the Krasnodar region, and Bernie Ecclestone, the owner of commercial rights to the Formula 1 series.

Presumably, the world’s most admired car races will be held in the southern Russian city starting in 2014. The agreement spans 7 years, but can also be extended for another 5 years.

As Vladimir Putin noted after the signing ceremony, the agreement was prompted by the need for “reasonable and efficient use of the facilities built ahead of the Olympic Games.”
The track that will host the first-ever round of the championship in Russia will be built in the Imereti Valley and will partially make use of the infrastructure built for the 2014 Olympics. The track, measuring 5.5 kilometers in length, will be laid across the Olympic Park and in some places include public roads. The track design was developed by Hermann Tilke, Formula 1 chief architect and the world’s main designer of car and motor racing circuits.
A special asset management company will be set up to run the track’s construction. Tentatively, the project will garner funds from such prominent investors as Lukoil, Basic Element, MegaFon, Russian Technologies State Corporation, and the authorities of the Krasnodar region.

Sources in the motor racing community do not rule out the possibility that in the wake of Formula 1, motor races could very well follow suit and make their appearance in Russia. To draw them in, however, Russia would need to send its own rider to MotoGP, the premier class of GP motorcycle racing – and this, unfortunately, is not in sight on the horizon.

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