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Volume 6 No. 211
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F1 CEO Bernie Ecclestone Calls On Red Bull To Help Finance Planned New Jersey Race

F1 CEO Bernie Ecclestone "wants Austrian energy drink company Red Bull to take on the responsibility and put the race project in New Jersey back on track," according to AUTOBILD. The inaugural edition of the F1 race in New Jersey was initially planned for June, "but financing problems have recently postponed the race until '14." To make sure F1 will race in New Jersey in '14, Ecclestone "is looking for investors that will help fulfill his vision." Ecclestone said, "I might get the Red Bull man behind the race project. It's a good market for them." With Red Bull man, Ecclestone was referring to Chalerm Yoovidhya, the son of Red Bull co-Founder Chaleo Yoovidhya, who holds a 51% stake in the company. A company that "spends several millions for a jump from the edge of space definitely also has the necessary funding to sponsor an F1 race in the New York market" (AUTOBILD, 10/22).