The inaugural Indian Grand Prix was a grand success. Many in the Formula One world might have wondered if India is capable of pulling of such a big feat. When the world champion Sebastian Vettel won India's first ever Formula One, it was the dream come true for the Jaypee Sports International (JPSI), who did a tremendous job in getting the track and the required infrastructure ready on time.
JPSI built the race track at a cost of Rs 850-900 crore and needs to fork out Rs 170-180 crore every year to remain in the international Formula 1 circuit for the next five years. Sustaining the massive infrastructure and the business, Jaypee has chalked out plans.
The company is in talks to bring home other high-profile motorsports events. The advantage with these events is the group can earn from broadcasting rights and in-stadium advertising.
The group is also preparing a proposal to offer the 875 acre infrastructure as an alternative site for the Auto Expo and other similar events. The company has already tied up with Mercedes Benz to set up a driving academy at the circuit on a revenue-sharing basis. India would be the fourth country after the US, Germany and China where Mercedes has set up performance academies.
It is quite interesting to see that the company is exploring possibilities of constant use of the facility even after the Grand Prix. We have many sports infrastructure facilities which the government has constructed for an event and not being utilised after that.
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