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Old 7th July 2009, 19:38   #1
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Exclamation Fuji withdraws from F1

The Toyota owned Fuji F1 circuit has withdrawn from formula 1 .
As Suzuka is owned by Honda who have already withdrawn from f1 as a team , the Japanese GP faces a bleak future .
Autosport link :
autosport.com - F1 News: Fuji pulls plug on Japanese GP

Text from autosport.com
Quote:
Fuji International Speedway has pulled the plug on hosting the Japanese Grand Prix in the future, track officials confirmed on Tuesday. The circuit had been planning to share the event with Suzuka, having held the last two Japanese GPs, but the global economic downturn that has affected track owners Toyota has forced a rethink.
A statement on the circuit's website said that although planning had already been underway for the 2010 event, the track had no option but to abandon its plans.
"In view of the sharply deteriorating business conditions and few signs of a rapid economic recovery, we decided it would be extremely difficult to continue holding the F1 Japanese Grand Prix," said the statement.
Fuji returned to the F1 calendar in 2007, following huge efforts by Toyota to revamp the circuit.
Lewis Hamilton won that first event amid torrential conditions, while Fernando Alonso took a surprise win for Renault in last year's event following a chaotic first corner.
Fuji said its focus now would be on holding Formula Nippon and Super GT events.
Hiroaki Kato, president of the Fuji track, could not hide his disappointment at the decision that brings an early end to the track's return to the F1 schedule.
"After only having announced barely three years ago, in March 2006, that Fuji Speedway would hold the F1 Japanese Grand Prix, it is heart-wrenching that we were not able to avoid the decision to abandon our plans to hold the race from 2010," he said.
"To the people who attended the event at Fuji Speedway last year and the year before, to those who were looking forward to the event there in the future, and to all those locally and elsewhere who granted us their immense understanding and encouragement, I deeply apologize for a result not commensurate with your expectations.
"At the same time, I would like to express my heartfelt appreciation for your kind support.
"Fuji Speedway intends to devote itself with even greater intensity to promote motor sports. For this, we humbly seek your continued understanding."
Suzuka is due to hold this year's Japanese GP, and the future of the country's race will now depend on whether the track's owners Honda wish to bankroll the event in the future - having already pulled out of F1.
Toyota's decision to stop the bankrolling of the Fuji event, which Reuters has suggested was costing it around 12-18 million GBP, come against the backdrop of the company expecting overall losses of 5.5 billion GBP in the business year to March 2010.
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Old 8th July 2009, 22:17   #2
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Well, its good that Panasonic Toyota are staying..Its ok that only the circuit is leaving.. It'll be back once the economy recovers and then Toyota and Honda will be fighting to host the races on their track!!
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Old 9th July 2009, 00:56   #3
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This economic crisis is really really taking its toll ! I m not getting any internship, hope we come out of it very soon
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Old 9th July 2009, 08:52   #4
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Yeah, the economic down slide has taken a lot of toll on almost all industries and hence, these guys are trying to protect their capital and there by improve their top line and bottom line. I am sure, it is important for them to survive the current situation rather than glow now and die out soon.
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Old 9th July 2009, 10:21   #5
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Its definitely an economic slowdown that withdraws Fuji from F1. Now we will see who sponsors Japanese GP !!!
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Old 10th July 2009, 00:37   #6
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How about Maruti err Suzuki Japan !
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Old 10th July 2009, 00:57   #7
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Its during times like this that ambitious emerging economies like India with a large F1 viewership, should be given a race.
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