LUKOIL has invested 2 billion rubles in the organization of the Grand Prix in Sochi

The largest private oil company LUKOIL has invested 2 billion rubles in the organisation of the race Grand Prix of Russia, said Deputy Prime Minister Dmitry Kozak in Sochi on Sunday.

“Is it true that LUKOIL paid 4 billion this year? No, he paid half that amount,” quotes his words TASS. Kozak also noted that on Saturday held talks with the head of a management company “the Formula-1” Bernie Ecclestone “about to renew the contract with the Russian investor who will continue to provide funding for the stage “Formula 1″ in Russia”.

Kozak noted that the track “Formula 1”, which now remains the property of the Krasnodar territory not to be transferred in the Federal property. He stressed that the track was built at the expense of subsidies from the Federal budget and there is no reason in order to compensate for the Krasnodar Krai construction costs.

“If the track will be transferred, will be transferred to the private investor,” he was quoted by “RIA Novosti”.

He did not specify what kind of investor is involved. In turn, a source “R-Sport” said that given the fact that the lender was part of a group VTB, Bank of Moscow, “it is possible that one of the potential investors will be the VTB group”.

The interlocutor of the Agency noted that the main negotiations between the interested parties will be held on Sunday or Monday.

At the end of March, the Chairman of Legislative Assembly of Krasnodar region Vladimir Beketov said that in may the regional Parliament of region will state that refuses to contain the track “Formula 1” due to the high costs. “Very large amounts spent on that car race took place,” he said.

In Sochi from 29 April to 1 may is the third in the history of Russian Grand Prix — a world championship stage on an auto racing in a class of cars “Formula-1”. Earlier on Sunday, the promoters announced that they were sold out all the tickets to the stands.

In February, “Sochi Circuit”, and host of the Grand Prix of Russia “Formula-1” has announced that it has signed a partnership agreement with LUKOIL for the period up to 2019. The contract amount is not called.