Organisers of the proposed Formula 4 night street race in Chennai have submitted before the Madras High Court that India’s first-ever Formula E race held at Hyderabad in February this year, in collaboration with the Telangana government, had boosted the city’s economy.
Racing Promotions Private Limited (RPPL) filed copies of a couple of news reports before a Division Bench of Justices R. Mahadevan and Mohammed Shaffiq on Wednesday, stating that Hyderabad’s economy was uplifted by $83.7 million, according to a study conducted by Nielsen Sports Analysis. The reports were filed after the Bench had on Friday sought a Memorandum of Understanding (MoU) signed between the Sports Development Authority of Tamil Nadu (SDAT) and the private motor sports company for conducting the Formula 4 Indian Championship and Indian Racing League (IRL) in Chennai.
