Jaypee Sports International Limited (JPSI) sure to break even in 3 years with Buddh International Circuit (BIC)
Jaypee Sports International Limited (JPSI), promoters of first ever Indian Grand Prix said on Tuesday that they were sure that their investments would be recovered in coming 2 to 3 years. Mr. Sameer Gaur, Managing Director of the company said that they had made huge investments but were in no doubt of their success.
JPSI have developed Buddh International Circuit and Gaur spoke of his aspirations and future plans at the unveiling ceremony held on Tuesday. The circuit has been constructed at an investment of $200 million and a further $200 million was spent for F1 licenses. The Buddh International Circuit would be used F1 races, other racing events, corporate events and there’ll be a racing academy. After the F1 races, there would be other motor sports activities like the Moto-GP, motorbiking, other training facilities would be offered to increase revenue from the Buddh International Circuit.
Top companies have been bought in as partners for sponsorships for races. Mercedes Benz has already offered their support and will setup a race car academy. This will be the German auto makers 4th such academy. The others are located in the US, Germany and China. The German luxury automobile manufacturer is also providing a fleet at the 2011 Indian Grand Prix, and it comes as no surprise when we mention the Mercedes safety car, which at present is the gull-wing Mercedes-Benz SLS AMG. Having debuted in the 2010 Bahrain Grand Prix, the V8 supercar is the fastest F1 safety car ever.
Mahindra and Mahindra (M&M) will also be proving support vehicles at the 2011 Indian Grand Prix, apart from using the Buddh International Circuit for future sports events. There’s also the 5 year race lease contract with the international motor sports body FIA. Mr. Sameer Gaur had this to say. “After the inaugural race at the circuit, we intend to open the track for public on Saturdays and Sundays.” “Aspiring racing car drivers and motor sport enthusiasts can come over here to practice.”