Organisers of the Russian GP: 'We ask Formula 1 to pay it back'

The Russian Grand Prix was cancelled last season after the Russian invul in Ukraine and the GP's organisers still claim to receive money from Formula 1. Sanctions raised by the EU would prevent a refund.

"They owe us money. We are asking Formula 1 to pay it back. It [the entry fee] was paid, but there was no spectacle," promoter Alexey Titov told Russian news agency Tass. The organisers of the Russian Grand Prix paid a lot of money to bring the Formula 1 circus to the home country, but so the weekend never took place.

Sanctions for Russia

The pinnacle of motorsport admits that a certain amount of money is indeed still to be repaid. "So in that sense there is no dispute, but they say they are not technically able to return the money," he said. The organisation was once controlled by VTB Bank, Russia's third-largest bank. Due to legal sanctions, Formula 1 now says the money could not be repaid.

Whether there is still hope of getting that money back? "Of course, this is the country's money and I am not afraid to say so," said Titov, who incidentally is not sad that Formula 1 has decided never to race in Russia again (for the time being). Indeed, the organisation itself is no longer interested either. "I don't miss Formula 1 at all. They left and we got the chance to set up our competitions, which we did. It was just a plus for everyone."