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Organisers of the Korean Formula 1 Grand Prix revealed that they have lost a little more than $36 million.
News agency Reuters reports that the Korean race (which staged its third F1 Grand Prix last Spring) returned operating losses of $36.4 million, potentially threatening its place on the F1 calendar.
South Korean organisers claim that they are not able to attract a sufficient number of spectators during the race weekend.
They have also expressed dissatisfaction at the terms of their contract with the owner of the commercial rights of F1, particularly over the cost of race-sanctioning fees.
They declared last year they were seeking renegotiate its Grand Prix contract in a bid to keep the event on the calendar following doubts over its future.
News agency Reuters reports that the Korean race (which staged its third F1 Grand Prix last Spring) returned operating losses of $36.4 million, potentially threatening its place on the F1 calendar.
South Korean organisers claim that they are not able to attract a sufficient number of spectators during the race weekend.
They have also expressed dissatisfaction at the terms of their contract with the owner of the commercial rights of F1, particularly over the cost of race-sanctioning fees.
They declared last year they were seeking renegotiate its Grand Prix contract in a bid to keep the event on the calendar following doubts over its future.