Bernie Ecclestone’s dream of Formula 1 visiting New York looks to have taken a step forward on Wednesday, with preliminary plans to hold a street race in Weehawken, New Jersey.
The plans were announced by Weehawken Mayor Richard Turner and and West New York Major Felix Roque in a joint statement.
The event could take place as early as 2013, just a year after Austin hosts its inaugural event in late-2012.
Both Turner and Roque stressed that no public money would be used and that early stage talks had been held with a group of investors led by Leo Hindery Jr., a former chief executive of the YES Network.
“In these uncertain economic times when every direct and indirect revenue source is vital, our own Formula One race could be a very positive boost to our citizens,” the mayors are quoted by WSJ.
“This said, we need to ensure that the financial benefits from the privilege of having these races in our towns are equitably shared and that no tax dollars are used. The investor group has already told us that our towns would be substantially compensated annually.”
A spokesperson for the local government added: “The prospect of having Formula One come to New Jersey is exciting.”
Discussion about this post