After acquiring the hosting rights for the 2022 FIFA World Cup, Qatar has bagged yet another big project to its portfolio by landing a long-term deal with Formula One.
Qatar has been taking huge steps towards acquiring massive sporting developments in the country. It was confirmed on Thursday, a 10-year deal has been signed between Qatar and Formula One, which will commence from 2023.
It is believed that Qatar will host its first F1 race in November, which would technically happen before the actual agreement which begins in two years at the Losail International Circuit, where MotoGP races used to take place in the past.
A lucrative amount of more than $300 billion has already been spent on the preparations for the upcoming 2022 FIFA World Cup. The country has focused on extending its airport and developing a new city along with a new stadium and metro station. There are estimations that Qatar will experience a $20 billion bump to its economy and almost 1.5 million visitors in the future.
The cancellation of numerous sporting projects and events due to the pandemic has boosted the commitment of Qatar towards F1.
As a result of augmented border controls, Australian Grand Prix was cancelled twice, the November race in Qatar will be a replacement for the same.
Various major F1 races were cancelled this year because of the pandemic protocols, including the Argentine Grand Prix, Singapore Grand Prix, and Canadian Grand Prix as well.
There are a lot of possibilities of a potential boycott of the World Cup because 59% of the U.S. fans claim various human rights abuses in the nation.