It is a known fact that Formula1 is the richest and most successful sport in the world and is currently touted as the best business case study for leading business houses round the world.

Most of its (F1 and its teams) operations have been made into corporate training modules and skills evaluative programs in todays's business world. For example, the 'pit stop challenge' is being used as a team building tool by such corporations like RBS, AT & T, Metronet as well as the British Royal Air Force.etc

Also, the commercial value of the sport is just too large to ignore-it is a $4 billion global enterprise with a glamour quotient worth much more than that....

But as all business go, it too has a cycle and i feel that the cycle is starting its downslide and the bosses of Formula1 have realised that and are expanding into markets and associations with such partners and countries who they might not have considered earlier in the past.

Even for a mega business like F1 there are challenges and that is the American market. While America ranks as the largest market for cars and motor sports, the appeal of F1 is miniscule....

Has F1 failed in this market? why can't the big brains of the corporate world and the F1 teams come up with a working solution to this challenge?

It is of course a wise move for F1 to enter the Indian market as the youth(the target segment) of the sub continent are more exposed to such forms of entertainment and i am sure that F1 will succeed...but to displace the craze of cricket is an impossible task by itself and in my personal opinion, F1 management will be better off trying to crack the american jinx.

Hosting a Grand Prix is a matter of prestige and the glamour quotient is unmistakeable, it raises the countries' standards to a much higher level, no doubt.

But one needs to remember that such an event costs as much as $50m a year. Not to mention that the fees are going up by 10% annually, and in return, the local circuits' management are only entitled to the revenue from ticket sales. The rest of the income goes to F1.period.this means that financial assistance from the governments(as in the case of Bahrain and Singapore) is integral to the survival of such ventures.

In a country like India where sporting ventures funded by the government are frequently meddled with by the members of the governing bodies and political parties, can F1 walk the tight-rope of politics and survive? and most important, is it really worth it?

Many might argue that it worked well for Bahrain. well, it did because Bahrain is a monarchy and is a small country, blessed with surplus incomes due to its oil wealth and everything else is just leisure....and most businesses are owned by the royal family(the ones involved in F1 at least!).

Yes, without a doubt, F1 did bring Bahrain to the world map of tourism and the presence of the sport there has paid rich dividends for the local businesses, especially the hospitality industry, involved in the sport.

But what about India, with such a diverse business environment and culture-rich population? can F1 reach out to all of these sectors?can all the sectors afford the association which only then, will make the sport really appealing across the country.

The explosion of interest in the sport in some countries like Spain and Germany were largely due to the success of their local drivers, Fernando Alonso and Michael Schumacher....prior to that the sport was not even televised in Spain!

Can India ever produce a race champion? please dont say Karun Chandok or Armaan Ibrahim or some of the current crop of drivers!...they may be good for A1 or GP2 series but not F1!...

Narain Karthikeyan was the best bet by far, but he came in too soon and with too little sponsor backing...AND in a dying team like Jordan...

Dr.Vijay Mallaya is trying to glamorise the sport and bring the sport to India with his 'Force India' venture(the 'force' is yet to manifest into actual performance, though!), and going by the support he is getting from F1 management it is quite obvious that F1 needs a market like India much more than India needs F1.

But it remains to be seen how the sports governing bodies of the present government will be able to convince the masses and cough up the money and infrastructure to host the sport AND maximise commercial benfits from the venture for the country......

and do all of this without stepping on the oppositions toes!...a tall order i must say!

Maybe Mr.Lalloo Yadav as the president of the 'Formula1-India Committee' will be the ideal person who can actually be able to pull it off.......... comments anyone?

I am an ardent fan and admirer of F1 management and the individual teams(Scuderia Ferrari) and i find their management techniques to be the most advanced in the world and ....to me, personally, it will be a real delight to see F1 in India at the earliest!