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.
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Famous quotes containing the word future:
“Given for one instant an intelligence which could comprehend all the forces by which nature is animated and the respective positions of the beings which compose it, if moreover this intelligence were vast enough to submit these data to analysis, it would embrace in the same formula both the movements of the largest bodies in the universe and those of the lightest atom; to it nothing would be uncertain, and the future as the past would be present to its eyes.”
—Pierre Simon De Laplace (1749–1827)
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—Ralph Waldo Emerson (1803–1882)