Bloomberg News

F-1’s Ecclestone Backs Grand Prix Bid for London Olympic Stadium

July 17, 2012

Formula One Chief Executive Officer Bernie Ecclestone says having a race in London would be “great for the city” after officials confirmed an auto track is among four bidders for the city’s Olympic Stadium.

The London Legacy Development Corp. today said it had received a bid from a company called Intelligent Transport Services in association with Formula One for the stadium that will host the Summer Olympics. It named soccer teams West Ham United and Leyton Orient and the UCFB College of Football Business as the other bidders.

“A race in London would be great for the city,” Ecclestone said in a telephone interview, adding there was no agreement in place with Intelligence Transport Services.

The company was registered in the U.K. in May 2011, according to records at Companies House.

“We’ve told them it’s a good idea and we would be interested,” Ecclestone said.

The British Grand Prix is currently held at Silverstone, where Mark Webber of Red Bull was the winner on July 8. Ecclestone said there would be “no problem” for that track, which is about 70 miles (113 kilometers) north of London, if a grand prix circuit was built in London.

The Olympic arena is the U.K.’s third-largest, behind Wembley Stadium and Twickenham Stadium. The games start July 27.

The U.K. government started seeking an operator for the 537 million pound ($838 million) stadium, the centerpiece of London’s 2012 games, in October after an agreement to sell the facility to West Ham failed because of legal challenges.

To contact the reporter on this story: Tariq Panja in London at tpanja@bloomberg.net

To contact the editor responsible for this story: Christopher Elser at celser@bloomberg.net


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