ING: F1 still makes financial sense

Investing in Formula One races still makes good financial sense for governments despite the huge sanctioning fees demanded by the sport's commercial boss Bernie Ecclestone, claims a new research document.

The report, conducted by Renault title sponsor ING and F1 industry monitor Formula Money, suggests that despite the multi-million pound fees demanded by Ecclestone, the returns are still far higher in terms of money that is pumped into the local economy as a consequence of holding a race.

The ING Investment Index states that governments of nations hosting F1 races invested a total of 275 million dollars (US) in hosting races, while receiving a return of 1.52 billion dollars for their local economies.

Topping the table with the most investment was Bahrain, where the local government contributed 45 million dollars for the race - but received 395 million dollars in return for the local economy.

The best return on investment was the Japanese Grand Prix, where the local government of Oyama Town contributed just four million dollars towards the race that benefited the local region with 70 million dollars.

The Monaco Grand Prix gets 17.1 million dollars for its government's investment of seven million dollars.

Singapore preview quotes: BMW