MOSCOW, September 29. /ITAR-TASS/. Almost all tickets have been sold out for Russia’s first ever Formula One Grand Prix, scheduled to be held in the Black Sea resort city of Sochi on October 10-12, the press service of the Russian racing organizing committee said in a statement on Monday.

“Last tickets for the Gran Prix of Russia remain currently on sale and we recommend to hurry all those wishing to make it to the historical event,” the statement said.

A total of over 45,000 tickets were printed for the race with the price ranging between 5,000 and 49,000 rubles ($127 and $1,240).

Russia’s chief promoter of the royal race Sergey Vorobyov earlier said that the ticket pricing policy for the event in Sochi was based on tickets’ sales for F1 GPs in other countries and the recently held Olympics.

In February and March, Sochi hosted the Winter Olympic and Paralympic Games, which, according to international sports officials, athletes and visitors, were organized at the highest level possible and provided up-to-date infrastructure at all levels.

Last December the International Automobile Federation (FIA) officially announced the calendar of the 2014 Formula One races, and the Grand Prix in Russia’s Sochi was scheduled for October 12 as the 16th out of 19 F1 Grand Prix races this year.

The Russian Grand Prix will be held at the racing track located near the Olympic Village in the coastal area of Sochi. The contract to include Russia in the calendar of F1 racing for the 2014-2020 period was signed in 2010 in Sochi by then-Prime Minister Vladimir Putin and F1 chief executive Bernie Ecclestone.

About three weeks after the contract was signed Putin, known for his avid support of sports development in Russia, gunned down a F1 bolide on a race track outside Russia’s second largest city of St. Petersburg.

In what can be called the ‘fastest president in the world,’ he reached a speed of 240 kmph (150 mph). His racing lap added to his previous motorized stunts, which included piloting fighter jets and strategic bombers as well as riding Harley Davidson motorcycles with Russian bikers.

Russian President Putin and Formula One supremo Ecclestone met again in Sochi in the wake of the Winter Olympics, which ran between February 7 and 23. At that meeting F1 supremo Ecclestone suggested that it would be interesting to hold Sochi GP in the night time.