{"id":14055,"date":"2011-10-27T06:56:57","date_gmt":"2011-10-27T10:56:57","guid":{"rendered":"https:\/\/www.racinginfocus.com\/?p=14055"},"modified":"2011-10-27T06:56:57","modified_gmt":"2011-10-27T10:56:57","slug":"russian-government-to-fund-sochi-f1-track","status":"publish","type":"post","link":"https:\/\/www.racinginfocus.com\/rif\/formula-1\/russian-government-to-fund-sochi-f1-track\/","title":{"rendered":"Russian government to fund Sochi F1 track"},"content":{"rendered":"<p>The Russian federal government has committed to invest heavily in the country&#8217;s inaugural grand prix in 2014.<\/p>\n<p>The Ria Novosti news agency reports that the circuit in Sochi, located on the Black Sea coast, is to be built at a cost of towards US $200 million.<\/p>\n<p>And the Krasnodar region&#8217;s deputy governor Alaxander Ivanov is quoted by Reuters: &#8220;The federal government has allocated $195.4 million for this project.&#8221;<\/p>\n<p>Officials said the remaining few million will be financed through sponsorship and private investors.<\/p>\n<p>In contrast, this weekend&#8217;s Indian grand prix has been financed entirely by the private promoter Jaypee, and the 2013 New Jersey race will also not receive any state help.<\/p>\n<p>The New Jersey promoter Leo Hindery told Austin American Statesman newspaper: &#8220;As a matter of principle, I don&#8217;t believe in government subsidies for sporting events.<\/p>\n<p>&#8220;I would never have done this project if it took a subsidy.&#8221;<\/p>\n<p><span style=\"color: #888888;\"><em>\u00a9 RIF | GMM<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Russian federal government has committed to invest heavily in the country&#8217;s inaugural grand prix in 2014. The Ria Novosti news agency reports that the circuit in Sochi, located on the Black Sea coast, is to be built at a cost of towards US $200 million. And the Krasnodar region&#8217;s deputy governor Alaxander Ivanov is &#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0},"categories":[3],"tags":[5262,5340,3349],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts\/14055"}],"collection":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/comments?post=14055"}],"version-history":[{"count":1,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts\/14055\/revisions"}],"predecessor-version":[{"id":14056,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts\/14055\/revisions\/14056"}],"wp:attachment":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/media?parent=14055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/categories?post=14055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/tags?post=14055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}