F1 bankrupting yet another F1 promoter

It "remains to be seen whether there will be an F1 event in Korea after the contract runs out in 2016 as the GP has been a crippling money loser for the small South Jeolla Province town." The "accumulated losses from the previous three events are now measured" at around 180B won ($160M). Korea Times

If next year's schedule to too large at 22 races, one can bet South Korea will be more than happy to have Bernie let them off the hook after this year's event so they can cut their losses.