Formula One chief Bernie Ecclestone has said he will not be charging the Bahrain Grand Prix organizers, despite the cancellation of the race.
It was believed that Bahrain would have to pay £25m as annual staging fee despite the cancellation, however, considering the political unrest which led to the calling off, Ecclestone, the commercial rights holder of F1, has confirmed that a fee won't be charged.
He told the Daily Telegraph, The fee that is normally being paid for the event is not being paid.I am not charging them for a race they are not getting. Whether they are covered by their insurers for loss of revenues, ticket sales, etc, I am not sure. But if anything is force majeure then that (the political unrest) is. It is similar to if an earthquake had struck. No one could have foreseen that a month ago.
Ecclestone also stated that if conditions in Bahrain improved, he would try his best to fit the race in this season.