New Formula One owners Liberty Media have concluded a deal with the organisers of the Russian Grand Prix to extend the current deal, which was set to end in 2020, by five years.
The new deal, which had been started by former Formula One supremo Bernie Ecclestone now runs until 2025.
The key aspect of this deal is VTB Group as the Russian Grand Prix?s new title sponsor, ending the requirement from the Russian government to pay the race fees.
?This is a complex deal, which combines the promoter contract.
‘The important part is the title sponsorship contract for us. Russian GP promoter Sergey Vorobyov told motorsport.com.
Vorobyov, also confirmed that Russia were open to switching the race to a night race, but insisted that the only way that would happen was if Russia could do everything themselves and not out source to international companies.
? there is an option of having a night race if we spend quite a significant amount of money and six to seven months of preparations. This can be done by using one of the suppliers, that had done such projects for Abu Dhabi or Bahrain or Singapore.
?But as a part of our vision for a Russian Grand Prix we want to go local in this regard. And we are now preparing the technical documentation for Russian companies that will apply for this type of contractual work for lighting and for electricity services for the Sochi Autodrom for the night race and we will be working very closely with FIA and FOM, so that will be specifically Russian-made lighting. We want everything to be made locally.’
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