Bahrain F1 chief says global crisis won't affect event

F1 PRICES: Bahrain's F1 chief does not expect the race to suffer amid the global credit crunch. (Getty Images)

The man in charge of the Bahrain leg of the Formula 1 championship has said he does not expect this year's event to be hit by the global credit crunch.

Bahrain International Circuit (BIC) chief executive officer Martin Whitaker was speaking after it was announced that a three-day pass for the Main Grandstand at the Gulf Air Bahrain Grand Prix will cost BD180 ($477), up by BD30.

At the same time, prices for places in the Victory and University Grandstands have been cut by up to 44 percent, Gulf Daily News reported on Tuesday.

Whitaker said the increase in Main Grandstand tickets - the first since the race began in 2004 - reflected the improved entertainment on offer on the sidelines of the event which takes place from April 24-26.

"I think we present very good value for money and most people come to the race because they know they will have a really good weekend," he told the paper.

Whitaker said he did not expect the race to be adversely affected by the credit crunch, despite the increasing cost of some ticket prices and added that Bahrain could benefit from the economic downturn.

"We expect that a lot of businesses that would normally travel (from Europe) to far away races will be looking carefully at Bahrain.

"Ultimately, yes they will be looking at their cash flow, but at the same time they be looking at maybe not travelling to Australia, China and Malaysia, but considering the shorter haul route to Bahrain."

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