Fuji pulls plug on Japanese GP
By Jonathan Noble Tuesday, July 7th 2009, 06:51 GMT
Fuji International Speedway has pulled the plug on hosting the Japanese Grand Prix in the future, track officials confirmed on Tuesday.
The circuit had been planning to share the event with Suzuka, having held the last two Japanese GPs, but the global economic downturn that has affected track owners Toyota has forced a rethink.
A statement on the circuit's website said that although planning had already been underway for the 2010 event, the track had no option but to abandon its plans.
"In view of the sharply deteriorating business conditions and few signs of a rapid economic recovery, we decided it would be extremely difficult to continue holding the F1 Japanese Grand Prix," said the statement.
Fuji returned to the F1 calendar in 2007, following huge efforts by Toyota to revamp the circuit.
Lewis Hamilton won that first event amid torrential conditions, while Fernando Alonso took a surprise win for Renault in last year's event following a chaotic first corner.
Fuji said its focus now would be on holding Formula Nippon and Super GT events.
Hiroaki Kato, president of the Fuji track, could not hide his disappointment at the decision that brings an early end to the track's return to the F1 schedule.
"It is just gut-wrenching," he said. "Our customers were looking forward to the next grand prix at Fuji, so it is with great regret that we have had to do this. I apologise deeply for being unable to live up to expectations."
Suzuka is due to hold this year's Japanese GP, and the future of the country's race will now depend on whether the track's owners Honda wish to bankroll the event in the future - having already pulled out of F1.
Toyota's decision to stop the bankrolling of the Fuji event, which Reuters has suggested was costing it around ?12-?18 million, come against the backdrop of the company expecting overall losses of ?5.5 billion in the business year to March 2010.