BAHRAIN: MOTOR RACING - Bahrain gets ready to host the opening race in the 2010 Formula 1 season

Record ID: 721204

  • Title: BAHRAIN: MOTOR RACING - Bahrain gets ready to host the opening race in the 2010 Formula 1 season
  • Date: 15th March 2010
  • Summary: SAKHIR, BAHRAIN (MARCH 11, 2010) (REUTERS) (SOUNDBITE) (Arabic) DEPUTY VICE PRESIDENT OF BAHRAIN INTERNATIONAL CIRCUIT (BIC), SHEIKH SALMAN BIN ISA AL KHALIFA, SAYING: "Bahrain will benefit from this race. During the race viewers reach 200 million people, and that represents a chance to deliver a presentable image of Bahrain to such a large number of people, enabling marketing for Bahrain." CLOSE OF SHEIKH SALMAN BIN ISA SHEIKH SALMAN BIN ISA HOLDING A BUSINESS MEETING (SOUNDBITE) (Arabic) DEPUTY VICE PRESIDENT OF BAHRAIN INTERNATIONAL CIRCUIT (BIC), SHEIKH SALMAN BIN ISA AL KHALIFA, SAYING: "On the other hand, BIC represents a good economical revenue source for Bahrain, because the income of BIC reaches 600 Million Dollars per year, while the investment spent in building the circuit was only around 150 million dollars. So if you compare the income of 600 million, and the cost of investment of 150 million, you can easily see how good this investment was." CLOSE OF SHEIKH SALMAN BIN ISA'S HANDS (SOUNDBITE) (Arabic) DEPUTY VICE PRESIDENT OF BAHRAIN INTERNATIONAL CIRCUIT (BIC), SHEIKH SALMAN BIN ISA AL KHALIFA, SAYING: "There are billions of dollars in the Gulf area market, and our aim is to connect the companies, sponsors and teams attending the event with the companies in the area. For example, (British entrepreneur) Richard Branson visited Bahrain about three years ago, in 2008, to attend one of the business forums, and after the forum he signed a 200 million dollars contract in Bahrain, having benefited from the contacts available. Therefore, BIC plays a major role and the formula 1 is the bridge that links the international companies with the Gulf market." BILLBOARD ADVERTISING THE GRAND PRIX BAHRAIN INTERNATIONAL AIRPORT SIGN WITH A HUGE BANNER FOR THE BIC FORMULA 1 EVENT
  • Embargoed: 30th March 2010 13:00
  • Keywords:
  • Location: Bahrain
  • Country: Bahrain
  • Topics: Sports
  • Reuters ID: LVACDLDTEXILQUFLCS109M8760I1
  • Story Text: Bahrain is set to host the opening race in the 2010 Formula 1 season when the cars take to the track on the weekend beginning Friday March 12.
    The Bahrain International Circuit (BIC) was the first racing circuit in the Middle East when it was built in 2004, with Michael Schumacher, driving for Ferrari, winning the first ever Formula 1 Grand Prix held there the same year.
    Deputy Vice President of BIC, Sheikh Salman Bin Isa Al Khalifa, explained that holding the opening race in Bahrain made more sense than holding it in other places such as Australia.
    "Launching this event from the Bahrain International Circuit proves that it is the best place to hold this race because the race timing in Britain is around 12 or 1pm. They used to hold it in Australia where the timing was around 2am (UK time). That's why holding it in Bahrain is more suitable," he said.
    The idea to build the racing circuit in Bahrain was supported by the Crown Prince Sheikh Salman Bin Hama who wanted to raise the profile of the kingdom around the world and draw investment to the region.
    "Bahrain will benefit from this race. During the race viewers reach 200 million people, and that represents a chance to deliver a presentable image of Bahrain to such a large number of people, enabling marketing for Bahrain," explained Bin Isa.
    "There are billions of dollars in the Gulf area market, and our aim is to connect the companies, sponsors and teams attending the event with the companies in the area. For example, (British entrepreneur) Richard Branson visited Bahrain about three years ago, in 2008, to attend one of the business forums, and after the forum he signed a 200 million dollars contract in Bahrain, having benefited from the contacts available. Therefore, BIC plays a major role and the formula 1 is the bridge that links the international companies with the Gulf market," Bin Isa added.
    The racing circuit was built in only 16 months at a cost of 150 million dollars. With a generated income of 600 million dollars per year, Bin Isa says the investment in the racing circuit was a sound business opportunity.
    "BIC represents a good economical revenue source for Bahrain, because the income of BIC reaches 600 Million Dollars per year, while the investment spent in building the circuit was only around 150 million dollars. So if you compare the income of 600 million, and the cost of investment of 150 million, you can easily see how good this investment was," he said.
    The 2010 Formula 1 season will end in November at the Yas Marina in Abu Dhabi. Bin Asa does not see this race as a competitor to BIC but more as a partner, promoting the whole Gulf region.
    "The Yas Marina circuit in UAE (United Arab Emirates) is one of the best circuits we have seen, and it is not considered a competitor. Rather, we look on it as a chance to join efforts. In Europe we find five or six circuits cooperate to help the racing sport. We in BIC are working on joining efforts, since we have the experience of running a circuit because we started five years ago. And building the Yas Marina circuit proved that our step in (building the) BIC was correct," Bin Asa said.
  • Copyright Holder: REUTERS
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