Grand Prix to Return to IndyBy Sean Toth Indianapolis Motor Speedway recently announced that it signed a one-year contract extension with Formula One to again host the U.S. Grand Prix in 2007. Tony George, IMS CEO, signed the contract with top Grand Prix officials on Aug. 15. A one-year deal was signed because the sport's organizational structure, known as the Concorde Agreement, is good only through next year. No definitive date for the 2007 U.S. Grand Prix has been announced, but IMS officials said they are shooting for early-to-mid June. The date will be decided upon when the F1 sanctioning body approves next year's schedule. Although the contract was for only one year, George said that he hopes to have a long-term commitment to F1 racing. This year's Grand Prix was very controversial when 14 of the 20 drivers pulled their cars off the track before the start because of concerns over Michelin's tires. Only six cars, all with Bridgestone tires, completed the race. The incident made the relationship between the IMS and USGP uncertain, and that is said to be another factor in the short-term contract. Michelin helped the situation by purchasing 20,000 tickets to fans that renewed their orders. But Michelin will not be participating in next year's F1 events. A plan for purchasing tickets will be announced to the public next week. "It seemed appropriate to see how things shake out and see what the lay of the land is," George said of F1's instability. "There are too many unanswered questions to commit any longer than that." Betting on the Indianapolis 500 is in full swing! Click here to view the 2008 Indianapolis 500 betting odds!Of the three major events at the Indianapolis Motor Speedway (The Indy 500, Grand Prix and the Brickyard 400) the F1 race is thought to be the most financially beneficial for the area because a higher percentage of the race attendees are from out of town, giving more of a demand for businesses such as hotels and restaurants. And the teams and sponsors have larger financial backing than the other two races. This year's race had an approximate attendance of 100,000 people. Join the World's most popular Online Sportsbook and receive a 50% SIGN-UP BONUS + $25 FREE CASH! For well over a decade, millions of Americans bet on Sports, Horses, play Poker and Blackjack at the World's LARGEST online sportsbook, casino and poker room, SPORTSBOOK.COM! Enjoy a 100% Bonus in their Poker Room and always get a 21% Referal Bonus and tons of other great promotions!No other details, including how much the Speedway will pay F1, were revealed. I'll keep you up to date on any more relevant information concerning this event and situation when it's released! --- by Sean Toth at wagerweb.com> on August 25, 2006
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