Axed Russian GP Still Seeking F1 Fee Refund

2020 Russian Grand Prix
2020 Russian Grand Prix

Promoters of the axed Russian GP are still asking Formula 1 to return the race fee for 2022.

The race at Sochi, and the remainder of the Russian GP contract, was terminated unilaterally by F1 at the outbreak of the conflict in Ukraine.

“They owe us money,” promoter Alexey Titov told the Russian news agency Tass.

We ask Formula 1 to return it. It was paid but there was no spectacle.

“They admit that there is a debt so in this sense there is no litigation, but they say that they are technically unable to return the money.

“We, as an organisation, were once controlled by VTB Bank, which was a technical sponsor, so there are legal sanctions barriers for the return of funds,” Titov added.

“Is there any hope of getting the money back? Of course – this is the country’s money and I’m not afraid of saying it.”

China has not hosted a single grand prix since the outbreak of the covid pandemic, but FIA inspectors have now visited the Shanghai circuit to restore F1 approval – with a revival of the Chinese GP now expected for 2024.

As for Russia, however, Titov says the promoters are no longer interested in F1.

“I don’t miss Formula 1 a bit,” he said. “They left and we had the opportunity to establish our competitions, which we did.

“This was only a plus for everyone.”

More in News

MONTE-CARLO, MONACO - MAY 27: Pole position qualifier Max Verstappen of the Netherlands and Oracle Red Bull Racing and Second placed qualifier Fernando Alonso of Spain and Aston Martin F1 Team talk in parc ferme during qualifying ahead of the F1 Grand Prix of Monaco at Circuit de Monaco on May 27, 2023 in Monte-Carlo, Monaco. (Photo by Mark Thompson/Getty Images) // Getty Images / Red Bull Content Pool // SI202305270377 // Usage for editorial use only //

Max Verstappen Snatches Dramatic Monaco Pole

Max Verstappen has snatched a last-gasp pole position at the ...
2023 Monaco Grand Prix, Friday - Lewis Hamilton

Lewis Hamilton Desperate For Strong Monaco Result

Toto Wolff has insisted he would dread the seven-time world ...
MONTE-CARLO, MONACO - MAY 26: Max Verstappen of the Netherlands driving the (1) Oracle Red Bull Racing RB19 on track during practice ahead of the F1 Grand Prix of Monaco at Circuit de Monaco on May 26, 2023 in Monte-Carlo, Monaco. (Photo by Mark Thompson/Getty Images) // Getty Images / Red Bull Content Pool // SI202305261052 // Usage for editorial use only //

Max Verstappen Fights Back, Fastest In Monaco FP2

Max Verstappen set the pace in the second free practice ...
Ferrari's Flying In Monaco Free Practice

Ferrari’s Flying In Monaco Free Practice

Friday at the Monaco Grand Prix saw Scuderia Ferrari drivers ...
Fernando Alonso, Aston Martin Amr23

Fernando Alonso Off To A Fast Start In Monaco

Fernando Alonso got off to a fast start in Monaco, ...

Trending on F1 Chronicle