Representative photo (Photo by Rudy Carezzevoli/Getty Images) The sports ministry wants to bring Formula 1 back to the Buddh International Circuit in the near future and has already started a dialogue with the track authorities to revive the race, which was last held in India in 2013.According to a ministry source, Sports Minister Mansukh Mandaviya has already visited the circuit in Greater Noida and held talks with officials from the Yamuna Expressway Industrial Development Authority, the state body that has taken over control of the facility from its owners – the now bankrupt Jaypee Group.Adani is looking to buy the troubled Jaypee Group, and once that happens, the whole process of trying to get the plant back in India may gain momentum. For now, it is clear that the central government wants the highly watched sport to return to the country.The Indian round ran for three seasons from 2011 to 2013 before being dropped from the Formula 1 calendar due to tax and bureaucratic issues.“The minister recently went to see the F1 track in Greater Noida and discussed with the promoters the latest when the race can be restarted. He told the track owners to hand over the track to any sports management company for 2-3 years that will work to bring the sport back to India,” the source said.“There is a tax issue in organizing F1, but it will be resolved soon. The minister has told the promoters to restart F1 as soon as possible,” the source added.However, bringing Formula 1 back to India will require a concerted effort from all stakeholders.Formula 1, already struggling with a record 24-race calendar and growing interest from countries to host the globally watched event, has some work to do when it comes to awarding races.Running a Formula 1 race comes with insane costs, ranging from $20 million to $60 million per year.A substantial portion of the races on the existing calendar are government-funded, particularly in the oil-rich Middle East.In India’s favor, it already has world-class racing facilities like the Buddh International Circuit.The three races in India drew huge crowds in the previous decade before fading into obscurity due to red tape and tax hurdles.
