Source:
REUTERS/HAMAD I MOHAMMED
[Saba
Sports News] Over the past three years, the American company Liberty Media
Group has been actively involved in the development of F1 street racing.
Recently, the FIA announced a 10-year Grand Prix contract with Madrid, Spain,
which sparked speculation about the location of the next street race. Today,
there are reports indicating that Osaka Prefecture, the largest city in the
Kansai region of Japan, is considering applying to host an F1 street race. The
director of the Osaka Prefecture Tourism Bureau believes that hosting an F1
race can elevate Osaka to an international tourist destination. The race has
the potential to attract affluent individuals from Europe, the United States,
and Australia, which would undoubtedly invigorate Osaka’s local nightlife
economy. Some fans have pointed out that the Singapore Grand Prix held last
year featured various live events and luxury brands hosting business meetings
in nearby hotels. From the editor’s perspective, the primary factor in hosting
an F1 Grand Prix is financial. The investment required for such a project may
take several years to recoup. It’s crucial to consider the overall economic
impact on the city, as relying solely on revenue from race days can be
challenging. Additionally, considering the presence of the traditional Suzuka
F1 circuit in the Kansai region of Japan, it may prove difficult for Osaka
Prefecture to secure the opportunity to host an F1 street race.