It had earlier been reported that the event’s officials were keen to negotiate better financial conditions in what has been an event blighted by ever-dwindling crowd attendance ever since its first race in 2004.
But the Shanghai Daily newspaper is reporting that a deal has been struck between Formula One Management and the event’s organiser, Juss Events, to keep the race at the Hermann Tilke-designed circuit until at least the 2017 season.
It is believed – according to quotes attributed to the city’s vice-Mayor Zhao Wen – that the promoter fees payable to FOM have been reduced.
[Original image via LAT]
Latest posts by Richard Bailey (see all)
- 2020 F1 Season Review (Blu Ray) - 27 February, 2021
- WTCR: Guerrieri outwits Muller at the Nordschleife - 26 September, 2020
- WTCR: Girolami breaks Nordschleife lap record to claim pole - 25 September, 2020
- WTCR: Hyundai withdraws from Germany round - 24 September, 2020
- WTCR: Ehrlacher leads Lynk & Co podium sweep at Zolder - 13 September, 2020