Autoweek.com published the amount of the racing fee Azerbaijan will have to pay to Formula One.
It is USD 150 mln over three years.
Italian Automobile Club head Sticchi Damiani told Bernie Ecclestone, Formula One boss, that Azerbaijan will pay USD 150 mln fee for three GPs to be held in 2016, 2017 and 2018.
“Ecclestone has called for $28 million, a figure much higher than we are paying but much lower than other racetracks,” Damiani was quoted by Italpress.
He also said that the Italian Automobile CLub is ready to pay only USD 20 mln.
Azad Rahimov, the Minister of Youth and Sports of Azerbaijan told earlier to the press that the agreement with Ecclestone had been signed.
ANS Press reports that the racing fee for GPs to be held in Baku will need to be paid over the period of 10 years.