Indian Grand Prix organizers have dismissed rumors that the event could be in doubt after next year as "baseless and malicious."
India joined the Formula 1 calendar in 2011 and has a contract to host the race until '15. Reports emerged on Tuesday suggesting promoter Jaypee Sports International was in financial trouble and that the 2015 race could be in danger. A JPSI spokesperson, however, dismissed the speculation.
"Some international news organizations are trying to spread rumors that JPSI may not host 2014 Indian GP. This is totally baseless and malicious," he said. "Our agreement with Formula One Management is to hold F1 races at Buddh International Circuit until 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 the World Superbike Championship which will be held this year on Nov. 17. We are fully committed to promote motorsport in India in collaboration with local government and global and local motorsport organizations."
This year's Indian F1 race takes place on Oct. 27.