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Finshots Special: A tax jam that shook India's F1 circuit
Finshots Daily
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In 2011, the Formula One Grand Prix or the F1 GP made a grand entry in India. The country said hello to the F1 madness with platforms like Bookmy Show selling tickets worth 1.25 crore rupees in just 3 hours of the ticket sale launch. And the hype was so intense that the inaugural GP even garnered 6 times the average rating points than any other GP ever held. So what went wrong? Well, it all started with a contract between JP Sports and Formula One World Championship Limited or F4WC. Currently, a crisis hit conglomerate has bagged the F1 hosting and promotional rights for 5 years starting in 2011. But the deal went sour after 3 seasons in 2013
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