Future
Organisers of the Korean Grand Prix have expressed dissatisfaction over the terms of their contract with Bernie Ecclestone and Formula One Management, particularly with regards to the cost of race-sanctioning fees, and have sought to renegotiate the contract, seeking more-favourable terms. However, Ecclestone ruled out renegotiations, stating that the initial negotiation process had been difficult enough, and that the organisers were aware of the terms of the contract when they first signed it. Ecclestone has stated that in the event that race organisers can not pay sanctioning fees, the Korean Grand Prix will be removed from the calendar. The final calendar released in December kept the Korean Grand Prix intact. Shortly after the Australian Grand Prix, organisers of the race in Korea announced that they had reached a new deal with Formula One Management that would save $20.5 million (₩23 billion) in costs. However, Kang Hyo-seok, director of race organisation for the Korean Grand Prix, admitted that the race was still far too expensive for Korea, anticipating an estimated loss of $26 million (₩29 billion) in 2012.
Read more about this topic: Korean Grand Prix
Famous quotes containing the word future:
“It is marvelous indeed to watch on television the rings of Saturn close; and to speculate on what we may yet find at galaxy’s edge. But in the process, we have lost the human element; not to mention the high hope of those quaint days when flight would create “one world.” Instead of one world, we have “star wars,” and a future in which dumb dented human toys will drift mindlessly about the cosmos long after our small planet’s dead.”
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—Lyndon Baines Johnson (1908–1973)
“I would like you to understand completely, also emotionally, that I’m a political detainee and will be a political prisoner, that I have nothing now or in the future to be ashamed of in this situation. That, at bottom, I myself have in a certain sense asked for this detention and this sentence, because I’ve always refused to change my opinion, for which I would be willing to give my life and not just remain in prison. That therefore I can only be tranquil and content with myself.”
—Antonio Gramsci (1891–1937)