“The government will no longer organize the Grand Prix of Russia “Formula-1”

– The state will no longer participate in the conduct of the Russian stage “Formula 1”, said Deputy Chairman of RF Government, Chairman of organizing Committee on preparation and holding of the Russian stage “Formula-1” Dmitry Kozak at a press conference Thursday in Moscow.

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“The state will not participate, either financially or organizationally. Previously this was done by the company “omega”, but at the end of 2017 was created by the company ROHONCI”, which conducts the Grand Prix of Russia, and organizes year-round operation of the circuit. Completes transfer of “Sochi circuit”, in the first reading today, a law was passed, the amendment to the tax code that the transmission was without eminent domain of VAT, the transaction will be granted privileges”, – said Dmitry Kozak.

“Funding has changed, attracted sponsors, which will allow to abandon the budgetary costs of holding the race. Title sponsors VTB and LUKOIL. Almost completed the formation of pools of partners, the company will receive a significant amount of the advertising rights,” he added.

Earlier it was reported that on 5 April the budget Committee of the State Duma recommended to adopt in the first reading a bill that will allow you to donate the track “Formula 1” in Sochi and infrastructure of the company “ROSJANKI” and release the transaction from VAT.

Company “ROSJANKI” was founded in 2017.

Grand Prix of Russia “Formula 1” was held in 2014, the first winner of the Russian stage “Royal races” was the Briton Lewis Hamilton.

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