Economic downturn may halt French GP

As one of the most obviously expensive sports in the world, Formula One motor racing has always seemed likely to suffer from the downturn in global financial markets.
That likelihood is rapidly becoming reality, with the announcement on Wednesday that the French Grand Prix, one of the longest established in the sport's calendar, may not take place next year.

Nicolas Deschaux, the president of the French motorsport federation, warned that "after looking at the economic situation, the FFSA will no longer act as the French Formula One Grand Prix's financial promoter. As a result, as long as there is no promoter to succeed the FFSA, the French GP may not figure in the FIA calendar in 2009".

Recent speculation has suggested that the future of the French race may lie with a new circuit to be constructed close to Disneyland Paris, a site that is close to the capital and a Eurostar rail link.

The current venue, Magny-Cours, is bland and distant from any major population centre, causing accommodation difficulties for teams, sponsors and fans.

But a circuit near Disneyland Paris could not be ready until 2010 at the earliest.

Earlier this month motor sport's governing body, the FIA, took Canada off the 2009 schedule and replaced it with a race in cash-rich Abu Dhabi.

The leading figures of the most celebrated international motor racing category have recently become increasingly concerned about the future funding of their sport. Several F1 teams are backed by major international financial firms, and most of the leading teams are either owned or backed by major car manufacturers, who have been challenged by rapidly falling sales.

Team leaders are expected to gather at the end of the month to discuss the future financial viability of Formula One.

Max Mosley, the president of the FIA, has suggested that unless drastic spending cuts are implemented, F1 might cease to exist in its current form within a year.

Mosley believes that a common engine shared by all teams would go a long way to providing the economies that are necessary. But the manufacturers are wary of a step that would remove their major justification for going racing in the first place
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