By IANS
New Delhi : India will host its first Formula One race in 2009, Indian Olympic Association (IOA) president Suresh Kalmadi announced here Thursday.
"A deal has been signed with Bernie Ecclestone, chief executive officer of the Formula One to hold the race in the capital. The IOA will be the promoter of the first event which will be held in 2009," said Kalmadi, adding that the IOA will also raise the necessary funds through government and private sponsors.
Kalmadi also said that the IOA would build a F1 track and a brand new stadium in the capital by 2009 to hold the race.
There has been a heightened interest in F1 races in India after Narain Karthikeyan became the first Indian in 2005 to take part in such event.
Ecclestone had also said in the past that India was one of the future markets for motor sport after Karthikeyan drove for the Jordan team in the 2005 season.
New Delhi is also due to host the Commonwealth Games in 2010.