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:
““Dark times” is what they call it in Norway when the sun remains below the horizon all day long: the temperature falls slowly but surely at such times.—A nice metaphor for all those thinkers for whom the sun of mankind’s future has temporarily disappeared.”
—Friedrich Nietzsche (1844–1900)
“I will be steel!
I will build a steel bridge over my need!
I will build a bomb shelter over my heart!
But my future is a secret.
It is as shy as a mole.”
—Anne Sexton (1928–1974)
“Plato—who may have understood better what forms the mind of man than do some of our contemporaries who want their children exposed only to “real” people and everyday events—knew what intellectual experience made for true humanity. He suggested that the future citizens of his ideal republic begin their literary education with the telling of myths, rather than with mere facts or so-called rational teachings.”
—Bruno Bettelheim (20th century)