After Formula One, JPSI Sports, a part of the diversified Jaypee Group, today said it plans to bring global motorcycling championships MotoGp and SuperBike to India as it looks to break even in the next 3-4 years.
The company has put in a total of $400 million to set up the track at Greater Noida and to get the F1 licence. The Buddh International Circuit will host the inaugural Airtel Indian Grand Prix race on October 30.
"In 2012, we should aim for at least two to three international events at our track. At present, we are at initial stages of talks with both MotoGp and SuperBike championships (for an Indian leg)," JPSI Sports Managing Director and CEO Sameer Gaur told reporters here.
MotoGP and SuperBike are different premier motorcycling championships in the world, with races held at different circuits across various parts of the globe.
Gaur, however, said the priority at the moment is to host the first F1 race in India successfully.
"Our focus is on the F1 race in October and then we will gradually work on ensuring that the race track is occupied in order to recover our investments," he added.
When asked by when the company expects to break even, Gaur said: "We are looking to do so in the next 3-4 years."
He said 30 per cent of the $400 million investment was equity and the rest debt.
The firm is expecting a ticket revenue of around Rs 75 crore from this year's F1 race at the track and over 10,000 tickets have already been sold in the last five-six days.
"Besides, we are also talking to Puma to be the official merchandise partner of our track. We expect to finalise a deal soon," Gaur said.
For this year, the deal is aimed more at popularising the track, rather than considering it as a revenue stream, he said, adding that the tie-up would allow Puma to sell the track's merchandise at various retail outlets.
JPSI Sports today announced a tie-up with Mercedes Benz India, which will provide safety cars for the F1 race. The two companies will also start a performance driving academy in 2012.