Japanese Suzuka secured seat for 2012

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Japanese Grand Prix ensues future until 2012

Japanese Grand Prix’s future has been secured until 2012 with one year extension of the Suzuka Circuit. The track is regarded as one of the most challenging ones in Formula One.

This season’s race is scheduled for October 9, 2011, but a date for the next season is yet to be decided. The circuit has been hosting the event since 1987 but recently the market has become highly competitive due to the new venues that can pay aggravated sums for the events.

There are doubts about the Honda-owned circuit’s continuing on the F1 calendar as it is privately owned and not supported by either the national or local government.

In other countries, F1 is being used as a means to raise the global profile of countries and governments are paying as much as £30m-£50m to host the event. These include the new circuits located in the Gulf States of Bahrain and Abu Dhabi and the developing countries like India, Korea and China.

This year’s F1 schedule was set at 20 races, until the season opener in Bahrain was withdrawn due to the political unrest in the country. Bernie Ecclestone, the F1 boss, has pronounced that this is the maximum number of races the calendar can hold.

Competitors for the event’s hosting will increase in the coming years as America and Russia have signed contracts for it as well. America returns to it next year with a new track in Austin, Texas. Russia will be hosting the first ever race in 2014. Sochi, which is also hosting the Winter Olympics has been selected as the site for the event.

These new contracts considered, the scenario hints that some venues would have to be dropped off the calendar. The most vulnerable circuits would be the ones that have a short time left in their contracts and those that do not pay the high fees.

Suzuka is at a greater risk because of its declining involvement in the event since the last couple of years. Honda and Toyota have both dragged their teams out of the races and even the Japanese tyre supplier Bridgestone quit last season after 14 long years in the sport.

A Japanese driver, Kamui Kobayashi can be considered as an escalating star but he is unable to raise money from home companies. All these issues point at the race’s future as a doubtful one in Formula 1.