Ink a pact for September race, YEIDA tells MotoGP organisers

NOIDA: The organisers of MotoGP Bharat will have to sign a contract with the Yamuna Expressway Industrial Development Authority (YEIDA) for the international bike racing event scheduled to be held on September 22-24 at the Buddh International Circuit.
On Wednesday, YEIDA CEO Arun Vir Singh wrote to Fairstreet Sports, which is co-organising the event with Dorna Sports -- a Spanish company that owns commercial rights for MotoGP -- asking them to sign an MoU and complete the formalities in this regard.
While the modalities of the MoU are being framed, Singh said, “The organiser and the Authority will have a joint escrow account. The expenditure on the event and the amount received from it will be deposited in this account.”
COO of Fairstreet Sports Pushkar Nath Srivastava said they will soon sign the deal with YEIDA. “It is a positive development and will give a boost to our initiative.”
The Authority also sought information on the MoU signed with the state government for the event. During the UP Global Investors Summit in Lucknow in February this year, MotoGP organisers signed an MoU with the state government proposing to invest Rs 472 crore for the event.
YEIDA has also directed the promoters to obtain a NoCs from the district administration and the police department as the racing event will coincide with the UP government’s first international trade show at India Expo Centre and Mart in Greater Noida from September 21 to 25.
The premier international bike racing event will mark the return of the big league to the circuit since it hosted its last Formula 1 race in 2013. The organisers had told TOI that the track at the Buddh International Circuit would not require major design changes for the MotoGP and the interventions can be completed well within time for the venue to host the first Indian edition of the MotoGP event this September.