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IOA washes its hands off F1 project

Last Updated: Saturday, August 22, 2009 - 20:05

New Delhi: The Indian Olympic Association
today made it clear that its role in bringing the Formula One
race to India had ended two years back and it had nothing to
do with the management of the project.

The clarification came in the wake of a media report
which claimed that IOA President Suresh Kalmadi`s son and
daughter benefitted from the project.

A national daily disclosed that Kalmadi`s son Sumeer was
part owner of the company that has signed the contract with
the organisers to built the race track in Greater Noida.

It also said that Kalmadi`s daughter and son-in-law
joined the company -- JPSK Sports Private Limited-- as
directors.

However, the IOA sought to defend its President saying
that it had nothing to do with the project as they had backed
out of it long back.

An IOA statement said that since they could not meet the
"stringent conditions" set by the Formula One Administration
like mustering governmental support and raising USD 35 million
for the project, their involvement ended in 2007.

"Thus the facilitating role of IOA in bringing this
prestigious event to India came to an end at a premature
stage itself, resulting in automatic termination of further
communication on this issue with FOA by IOA in September,
2007, therefore IOA had no further role in the matter,"
the statement said.

Bureau Report

First Published: Saturday, August 22, 2009 - 20:05

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