A London grand prix is unlikely because the government is not willing to support it. That is the admission of Bernie Ecclestone, who told F1 business journalist Christian Sylt that he is prepared to...

A London grand prix is unlikely because the government is not willing to support it.

That is the admission of Bernie Ecclestone, who told F1 business journalist Christian Sylt that he is prepared to make "a large contribution" towards organising a street race in the British capital.

But the F1 chief executive is quoted by cityam.com: "I don't think the government would be prepared to put the required amount of money behind it."

That is despite the 81-year-old being apparently willing to "help the government and council with their costs".

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