20 Sep 2011

Bahrain tell Formula One to keep hosting money

11:07 am on 20 September 2011

The Formula One commercial supremo Bernie Ecclestone is confident the sport's turnover won't be down on last year after revealing that Bahrain had paid the hosting fee for the cancelled Bahrain Grand Prix.

Ecclestone says the Formula One balance sheet for 2011 should be 'flat' because of the bonus money, which he offered to give back to Bahrain before the Middle East country told him to 'keep it.'

The hosting fee for this year had been estimated by various sources at around $US 40 million ($NZ 49 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.