Former F1 CEO Ecclestone Vetoed Vietnam Grand Prix Despite Potential £320M Value

Bernie Ecclestone revealed that one of his last actions as Formula 1 CEO was "to give the red light to plans for a Grand Prix in Vietnam" -- despite the race being worth "potentially north of" £300M ($374.7M) to the sport, according to Christian Sylt for the London INDEPENDENT. The southeast Asian country is "looking to reinvent itself." F1 would drive tourism and Ecclestone said that the organizers were "ready to rev up the plan in summer last year." However, he rejected it as Vietnam has "little connection to motorsport" and F1 "already has several races in the region." Reflecting on the deals he did during his time as F1's boss, Ecclestone acknowledged that Vietnam "would have been a step too far" even though it would have paid an estimated £320M ($399.7M) over the 10 years of its contract (INDEPENDENT, 4/5).