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Decision of changing F1 Russian Grand Prix promoter company officially agreed - Deputy PM

June 25, 19:27 UTC+3 MOSCOW

Russia will hold its fifth FIA Formula One racing Grand Prix in Sochi from September 28 through September 30

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MOSCOW, June 25. /TASS/. A decision on changing the company organizing the Formula One Russian Grand Prix has officially been reached, Russian Deputy Prime Minister Dmitry Kozak told TASS on Sunday.

On Tuesday, Kozak’s adviser, Ilya Dzhus, told the Vedomosti newspaper that the Formula One Russian Grand Prix will be organized by a new company, which may be established by the end of the current year. Its possible founders are the sponsors of Sochi Avtoprom and the F1 Russian Grand Prix. Currently, the race organize is Center Omega. Kozak met with FIA Formula One chief executive Chase Carey on the sidelines of the F1 Azerbaijan Grand Prix on Sunday.

"We continue our cooperation. I would like to remind that we have extended the contract till 2025. Today, we reached a final agreement on changing the promoter company," Kozak said. "It will no longer be the Krasnodar-based company Omega. It will be a new company that would be founded by private companies. This event is no longer financed from the budget but solely from private businesses. So, they will be the founders of a promoter company. These decisions have been made, we have agreed on that. The contract will be signed with the new company next year."

Russia will hold its fifth FIA Formula One racing Grand Prix in Sochi from September 28 through September 30.

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