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Bahrain paid estimated $40M hosting fee for cancelled race

September 20, 2011 2:54 by Reuters

“I don’t think turnover will be down this year,” the 80-year-old Briton told the Independent newspaper when asked about the sport’s 2011 balance sheet.

“I think it will be flat because we were paid for Bahrain. I said we will give them the money back and they said ‘Don’t bother’.”

The hosting fee for this year had been estimated by various sources at around $40 million.

Ecclestone had said in February that he had waived the rights fees after the season-opening race was called off due to violent civil unrest. (Reporting by Alan Baldwin, editing by John Mehaffey)

Tags: Bahrain, bahrain F1, Bernie Ecclestone, Ecclestone, Ecclestone Bahrain, Formula One, GP, Grand Prix Bahrain