Location revealed for Greek F1 circuit - GPUpdate.net


Details have been confirmed about a Greek Formula 1 circuit that is due to be constructed in the Peloponnese, with plans finally coming into fruition after long-term discussions. The construction - which must be permitted by the government - is due to take three years and will be situated exactly 20 kilometres south-east of Patras.

"According to the study, the track will be able to host Formula 1 cars, Super bike and Go-Kart racing," the Regional, Development and Competitiveness Ministry explained in a statement this week.

"After the completion of the investment, 497 new job positions are expected to be created and a significant boost to tourism the in the region."

Last year Greece received a loan of 110 billion euros (94 billion pounds) to help ease the pain of a severe financial crisis, with the new circuit estimated at a cost of 95 million euros (82.6 million pounds).

 

Cool.

I figured it would be "in the back" somewhere.

 

Lol

 

I genuinely hope this is true, although I doubt it's ever going to happen.

 

well they already have the green light to start making it, and it is based on an economic growth plan for the area. I dont really know if this is going to work because once its completed the annual cost will be around 40 million, but anyways i remain positive...

 

Wait, isn't Greece still bankrupt?

 

err it was never bankrupt in the first place...

 

that is good news! let's hope it all comes together

 

Greek is always best in the rear.

 

The Greek government is bankrupt, the country is bankrupt. But as ever, its a situation of poor country, rich inhabitants. This will probably be privately funded, or majority private funding with the land giving the local government equity. My issue with it all is that nearly every F1 race around the world started off with the best of intentions of being privately funded, then once the gloss started to wear, they immediately went to the government for funding. The only exception to this I believe is the British Grand Prix, but they have enough vested interests in the race that it manages to barely stay afloat.

If the Greeks go ahead with this, they will get slammed by Bernie financially. Although I may be jumping the gun, the track is suitable for F1, no mentioned as to whether there is actually going to be an F1 race.

Don't get me wrong, my family is from outside Patra, so for me its mega, now I can cause some trouble on another race track, yet still be home for tea.