The Formula-1 European Grand Prix is due to be held in Azerbaijan within five years, Azerbaijani Minister of Youth and Sports Azad Rahimov told .
Azerbaijan has signed a contract for holding F1 races for 10 years, said the minister, noting that if Azerbaijan decides not to host the races during five years, the country will be fined.
“The race’s budget currently amounts to 12 million. The budget is formed by the fees and organizations expenses that are paid annually. This will be explained as well. Nothing will remain hidden,” he said.
APA