JANUARY 25, 2006
Formula 1 too expensive for London
The Mayor of London Ken Livingstone has never been backward in saying what he thinks and he thinks that Formula 1 is too expensive for London. Instead the city has done a deal with Amaury Sports Organisation to run the prologue and the first stage of 2007 Tour de France in London. That will cost London $2.7m which Livingstone told Bloomberg was "dramatically less" that the cost of a Grand Prix. Livingstone says that he believes the Tour de France would be hugely beneficial for London, attracting large numbers of people and generating income in the region of $80m.
It is worth noting that the Amaury Sport Organisation not only runs the Tour de France but also the Dakar Rally and owns a number of magazines including the huge French sports daily L'Equipe.
Livingstone said that London might consider running a race if it did not involve a huge subsidy from the London taxpayers.
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