Jaypee assures 2014 Indian Grand Prix is on

Jaypee Sports International, promoters of Indian Grand Prix, Wednesday rubbished European media reports that the race might be dropped by the Formula One organisers in 2014 and assured that the event is on.

Askari Zaidi, JPSI spokesperson, said: "Some international news organisations are trying to spread rumours that JPSI may not host 2014 Indian GP. This is totally baseless and malicious."

Jaypee's statement came after the European media was abuzz that the race could be dropped due to drop in attendance.

During the inaugural edition in 2011, 95,000 fans attended the race but the attendance dropped to 65,000 in 2012.

Zaidi said Jaypee's contract with Formula One Management run till 2015 and they are fully committed to it.

"Our agreement with Formula One Management is to hold F1 races at Buddh International Circuit (BIC) till 2015, and we are fully committed to do that. There is no reason for us to give up hosting F1 races. In fact, JPSI is keen to get some more international car and bike races to BIC, besides F1 and World Superbike Championship which will be held this year on November 17.

"We are fully committed to promoting motorsport in India in collaboration with local government and global and local motorsport organisations," he said.