Categories: 2015 SeasonF1 News, Reports and Race Results

Russian GP not under threat

Russian Grand Prix organisers say this year's race is not under threat despite comments concerning its financial stability.

The race receives major funding from the Krasnodar Krai region, with a loan covering the hosting fee. Amid financial uncertainty in the region, acting governor Veniamin Kondratiev told local media last week the race is depending on the funding coming through.

"There is an agreement with the Minister of Finances that we will get a loan from the State budget,” Kondratiev said. “Speaking about the loan, if there will be one – Formula 1 will take place. If there is no [loan] – no Formula 1".

However, race promoter Sergey Vorobyev says there are no concerns over the running of the race.

“I am sure that the Russian GP will take place in Sochi in 2015 and in upcoming years,” Vorobyev told Motorsport.com. “All preparation works for the race is going ahead and nothing has changed."

This year's Russian Grand Prix is scheduled for 11 October, with next year's race set to move to a slot early in the season.

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Andrew Lewin

Andrew first became a fan of Formula 1 during the time when Michael Schumacher and Damon Hill were stepping into the limelight after the era of Alain Prost, Nigel Mansell and Aryton Senna. He's been addicted ever since, and has been writing about the sport now for nearly a quarter of a century for a number of online news sites. He's also written professionally about GP2 (now Formula 2), GP3, IndyCar, World Rally Championship, MotoGP and NASCAR. In his other professional life, Andrew is a freelance writer, social media consultant, web developer/programmer, and digital specialist in the fields of accessibility, usability, IA, online communities and public sector procurement. He worked for many years in magazine production at Bauer Media, and for over a decade he was part of the digital media team at the UK government's communications department. Born and raised in Essex, Andrew currently lives and works in south-west London.