Adani Group Planning To Resurrect Formula 1 In India, To Take Over Buddh International Circuit

The Adani Group is working towards a new strategy that will see Formula 1 making a comeback to India. Karan Adani, MD - Adani Cement, recently confirmed the development, while speaking at an event. The Adani Group emerged as the winning bidder last November to acquire the debt-laden Jaiprakash Associates Limited (JAL), the flagship company of the Jaypee Group, for about ₹14,535 crore. Jaypee Group owns the Buddh International Circuit (BIC) in Greater Noida, and the race track will be acquired by the Adani Group as part of the deal.

Speaking at the event, Karan Adani said, "I'm very excited... obviously the Buddh circuit comes (as) part of the deal. I'm very personally driving it and I’m personally engaged in terms of bringing Formula 1 back into India. I think India has a lot of potential. There's a lot of following in Formula 1 from India.”

Also Read: Central Government Exploring To Bring Back Formula 1 To India

Calling F1 a passion, albeit an expensive one, he said, “I got exposed to Formula 1 from my friends when I was in Singapore. For some reason I just fell in love with the sport. This was the time when Michael Schumacher was at his peak and really dominating the whole sport. It was an inspiration to see how a single person with such grit and leadership, was able to command and be recognised globally. That was very fascinating. The most fascinating part was how they used to calculate every millisecond, toward whether you win or lose. That was something that really excited me.”

The statement comes just days after reports stated Sports Minister Mansukh Mandaviya recently visited the BIC. He also held talks with officials from Yamuna Expressway Industrial Development Authority (YEIDA).

Formula 1 first came to India between 2011-2013 across three seasons. The Buddh International Circuit was home to the championship before being dropped off the calendar for good. Tax issues were between the Uttar Pradesh state government and F1 organisers as one of the reasons the premier class championship did not return to India.

Karan Adani further said that India can set benchmarks for global events like Formula 1.

"Reputation of India and Indians has improved very, very significantly... I do believe that India can really showcase Formula 1... and can be a benchmark for a global event," he added. “Re-starting Formula 1 will also provide an opportunity to showcase not just the infrastructure but the hospitality and the heritage of the country.”

That said, global motorsport events including Formula E and MotoGP came to India in the last decade with little to no hope of their return.

With the Adani Group taking keen interest in F1’s return, it’ll be interesting to see the Indian Grand Prix finding a place on the race calendar. The next Indian GP, however, is still some time away.