London's Olympic Park to Host F1 Race?

Although the Donington Park organizers are still in search of finances to secure the hosting of next year's British Grand Prix, a much more extravagant option for a Formula One race in the UK has surfaced in the media recently. According to a report from The Evening Standard, a property developer is thinking of bringing F1 on the streets of the 2012 Olympic Park in London.

As announced by the International Olympic Committee (IOC) on the 6th of July 2005, London will host the 2012 Summer Olympics. The English capital has therefore became the only city in the world to have hosted 3 Summer Olympics in the history of the competition (after the 1908 and 1948 editions).

According to the aforementioned source, development consultant Anthony Spencer – mostly known to the public eye for his role in Arsenal's switch from Highbury to the Emirates Stadium – has already held a series of talks with the Olympic Delivery Authority in order to set up a layout for the potential race.

As street racing seems to be something that F1 supremo Bernie Ecclestone is very fond of at the moment, Spencer's idea might just appeal to the 78-year old Brit. However, neither Spencer, nor the ODA have commented on the matter.

“There have been meetings with Mr Spencer but this proposal has stalled at the start,” an undisclosed source was quoted as saying by the Evening Standard.

If given green light, such a project would nonetheless involve some multi-million investments from several sponsors, not to mention approving letters and authorizations from both the UK Government or the International Automobile Federation (FIA).