777 Partners has announced their collaboration with a UK based sports firm to get the approval for the construction of a new street race circuit at the Royal Docks in London, to host a Formula One race. According to the reports, the development is in the advanced stage and both the companies, 777 Partners and the UK Group are in talks with the F1 about adding Formula One to its calendar in the coming year.
The confidence to host the Formula One race is also backed by the London mayor Sadiq Khan, who has mentioned his idea of hosting a race, in the past. The main aim of mayor Khan is to run a potential London Grand Prix as a carbon-neutral event.
“We are hopeful that [the street race circuit] is coming, we are hugely excited about it,” said, Josh Wander, founder of 777 Partners.
“More importantly, we will build a world-class sports and entertainment complex that can serve the community year-round and revitalise the surrounding areas. It is the type of thing you really can’t quantify until it actually happens, but the impact is dramatic.”
Unmesh Desai, London Assembly member for City and East, added, “There is so much potential and that is why Formula One wants to be involved. They believe in us and we believe in them. It is a two-way partnership.”
“When Formula One and other major events come to east London, it will show that we are now firmly on the map. I am more than hopeful. It will happen.”
After an agreement that took place in July 2019, Silverstone’s current contract to host the British Grand Prix will expire in 2024. In the past as well, Silverstone officials have stated that a London Grand Prix would be challenged while renewing its contract.
777 Partners also clearly mentioned that they don’t intend to replace the Silverstone event but want to add another UK event for Formula One.