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EntertainmentWorld SportTechTraveliReport Football Golf Tennis Motorsport Human to Hero Horse Racing Equestrian Sailing Analysis SHARE THISPrintEmailMore sharingRedditStumbleUponDelicious/* push in config for this share instance */cnn_shareconfig.push({"id" : "cnn_sharebar1","url" : "http://www.cnn.com/2014/08/26/sport/motorsport/formula-one-greece-mediterranean-grand-prix/index.html","title" : "Greece \'keen\' on Mediterranean Grand Prix bid"});Greece 'keen' on Mediterranean Grand Prix bidBy Christian Sylt, for CNNAugust 27, 2014 -- Updated 1018 GMT (1818 HKT)window.CNN = window.CNN || {};(function setupContentMeta(ns) {ns.ContentMetadata = ns.ContentMetadata || {};ns.ContentMetadata.pageTopGallery = {};}(CNN));if (typeof cnnArticleGallery=="undefined"){var cnnArticleGallery={};if(typeof cnnArticleGallery.currentImageList=="undefined"){cnnArticleGallery.currentImageList=[];}}var expGalleryPT00=new ArticleExpandableGallery();expGalleryPT00.setImageCount(6);expGalleryPT00.setAdsRefreshCount(3);//cnn_adbptrackpgalimg("Acropolis now?", 1);.cnn_html_slideshow_metadata > .cnn_html_media_utility::before{color:red;content:'>>';font-size:9px;line-height:12px;padding-right:1px}.cnnstrylccimg640{margin:0 27px 14px 0}.captionText{filter:alpha(opacity=100);opacity:1}.cnn_html_slideshow_media_caption a,.cnn_html_slideshow_media_caption a:visited,.cnn_html_slideshow_media_caption a:link,.captionText a,.captionText a:visited,.captiontext a:link{color:#004276;outline:medium none}.cnnVerticalGalleryPhoto{margin:0 auto;padding-right:68px;width:270px}
Greece could be given the opportunity to host its own Formula One grand prix, according to the sport's chief, Bernie Ecclestone.cnnArticleGallery.currentImageList[cnnArticleGallery.currentImageList.length]={"currentPicture":true,"x":0,"y":0,"pos":1,"title":"Acropolis now?"}
Since hosting the 2004 Olympic Games in Athens, the venues around the city have fallen into disrepair and ruin.cnnArticleGallery.currentImageList[cnnArticleGallery.currentImageList.length]={"currentPicture":false,"x":0,"y":0,"pos":2,"title":"Greek tragedy?"}
This swimming pool in the Olympic Village has been left to rot over the past decade.cnnArticleGallery.currentImageList[cnnArticleGallery.currentImageList.length]={"currentPicture":false,"x":0,"y":0,"pos":3,"title":"Pool problems"}
A lack of investment has meant that the facilities have become dilapidated and can no longer be used.cnnArticleGallery.currentImageList[cnnArticleGallery.currentImageList.length]={"currentPicture":false,"x":0,"y":0,"pos":4,"title":"Water world"}
The old baseball stadium is almost unrecognizable from the one which spectators flocked to 10 years ago.cnnArticleGallery.currentImageList[cnnArticleGallery.currentImageList.length]={"currentPicture":false,"x":0,"y":0,"pos":5,"title":"Out of bounds"}
The Olympic Canoe and Kayak Slalom Center lies eerily silent and in ruin for all to see.cnnArticleGallery.currentImageList[cnnArticleGallery.currentImageList.length]={"currentPicture":false,"x":0,"y":0,"pos":6,"title":"Water woes"}HIDE CAPTIONAcropolis now?Greek tragedy?Pool problemsWater worldOut of boundsWater woes<<<
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6>>>Event.observe(window,'load',function(){if(typeof(cnn_adbptrackpgalimg) == 'function' && typeof(cnnArticleGallery) != 'undefined'){cnn_adbptrackpgalimg(cnnArticleGallery.currentImageList[0].image,"Greece 'keen' on Mediterranean Grand Prix bid");}});STORY HIGHLIGHTSFormula One could introduce a grand prix race in Greece'Formula 1 Mediterranean Grand Prix' registered as trademarkF1 supremo Bernie Ecclestone says Greeks " are keen"Ecclestone confirms all systems go for Russian Grand Prix in Sochi later this yearFollow us at @WorldSportCNN and like us on Facebook(CNN) -- A grand prix in austerity-hit Greece could be on the horizon according to Formula One boss Bernie Ecclestone.
On May 30, Ecclestone's company Formula One Licensing registered the 'Formula 1 Mediterranean Grand Prix' as a trademark."The Greeks are keen," Ecclestone told CNN. "They want me to go and see the Prime Minister or the mayor," added Ecclestone, referring to Antonis Samaras and Georgios Kaminis respectively. "We will have to find out if they have got any money."
Total investment of around $1 billion is required to build a track from scratch and cover the F1 hosting fee, which typically runs for 10 years.
Private investors are looking at the construction of a track in the Keratsini-Drapetsona municipality, which is six miles to the west of Athens.
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The wind in Sauber's sailsIt would be hard for Greece to justify a publicly funded investment after receiving more than €150 billion in bailouts following the recent recession, with unemployment still above 27 percent -- the highest in eurozone.
"Greece has experienced, and still is in the middle of, a massive crisis, but is now on the verge of stabilization and turning things around very slowly," said Greece's leading F1 journalist Dimitris Papadopoulos.
"Priorities must be set on where government funding will go and I'm pretty sure that an F1 race is not on the priority list on that level.
"We should, however, point out that private initiatives are looking at the possibility of funding the construction of a street circuit in the area of Drapetsona and the hosting of a race.
"The plans have been laid, financial studies have been completed, and the project has been presented to interested parties for financing.
"The Greek Prime Minister Antonis Samaras sent a letter to the mayor of Drapetsona, by which he provided his full support to this attempt and that is based on private funding."
Legacy
Athanasios Papatheodorou -- track architect for the prospective race promoter Dielpis -- says that "the Prime Minister himself has supported fully the initiative for organizing F1 races and is looking forward to the instruction from the relevant international federations to realize the Dielpis Formula 1 project.
"The greatest benefit for our country would be giving to the world the opportunity to see the most historical port of the Mediterranean sea," added Papatheodorou.
"And our experience at organizing big events, such as the 2004 Athens Olympic Games, is a big credential for us."
The Greeks are keen. They want me to go and see the Prime Minister or the mayor. We will have to find out if they have got any money.
Bernie EcclestoneWhile the Games in Greece were a tremendous success, their legacy has been far from medal-winning and images of the neglected sites recently hit the headlines on the event's 10-year anniversary.
Settlement
The bailouts for Greece came from the International Monetary Fund and the European Central Bank in which Germany has the largest single stake.
Ecclestone himself was recently a big contributor to Germany's economy through paying the largest legal settlement in the country's history.
He paid the state of Bavaria $100 million to settle charges, which he denied, that he had paid a $44 million bribe to steer the sale of F1 in 2006 to his preferred bidder, the private equity firm CVC.
Ecclestone has remained in F1's driving seat and recently returned to work at the Belgian Grand Prix after the conclusion of the court case.
Registering a pan-European trademark for the title 'Formula 1 Mediterranean Grand Prix' is a key step in the process of bringing the race to the F1 calendar.
Wherever possible, Formula One Licensing registers trademarks for the names of upcoming races and prior to the Mediterranean Grand Prix it protected the title to the Austrian Grand Prix which returned to the F1 calendar in June.
Changing times
A Mediterranean Grand Prix in Greece was first rumored in 2006 by Autosport magazine when it was suggested that the race could be rotated between a number of circuits, starting with Valencia in 2008 and then Paul Ricard in France the year after.
Putin is easy to deal with. A nice guy. Super guy. Trustworthy.
Bernie EcclestoneLast month F1 announced that the Mexican Grand Prix will return to the calendar next year after a 23-year absence and a new race in Baku, capital of the oil-rich country of Azerbaijan, will take place in 2016.
This year's new addition is a Grand Prix in Russia on a track which snakes around the park used for the Winter Olympics in Sochi.
It's the product of a partnership between Ecclestone and his personal friend Russian president Vladimir Putin.
"Russia is definitely going ahead," said Eccelstone. "Putin has given it 100% support. He is easy to deal with. A nice guy. Super guy. Trustworthy.
"He is a guy that if he says 'good morning' you can guarantee that it is before Midday. He wants to get the race done and he will get it done," added Ecclestone.
Support
Putin's resounding show of support comes against a backdrop of calls from UK politicians for the cancellation of the race which is due to take place on October 12.
Conservative MP David Davis, recently said that the "morally proper" thing for F1 to do is to put the race on hold in light of Moscow's alleged support for pro-Russian rebels in Ukraine who have been accused of shooting down Malaysia Airlines Flight 17.
Britain's Deputy Prime Minister Nick Clegg has also questioned whether Russia is fit to host either the Grand Prix or the 2018 World Cup
"The question marks I'm raising will only increase over the next coming weeks and months, over the summer and up to the Grand Prix," said Clegg.
The only F1 race to have been canceled in the past 20 years is the 2011 Bahrain Grand Prix which was dropped due to a civil uprising in the country.
Read: Ecclestone walks free after $100M settlement
Read: Mexico GP given green light for 2015 season
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