The F4 street racing infrastructure, meticulously set up just last month around Island Grounds, is now being dismantled by authorities owing to the cancellation of the event in the city that was set to happen on December 9-10, 2023. The high-energy event, which was initially slated to take place at the nerve centre of Chennai, has been relocated, prompting the unwinding of a significant investment.
Out of the whopping ₹40 crore budget earmarked for the ambitious venture, nearly ₹30 crores have already been expended on the now-defunct Island Grounds setup. The Tamil Nadu government is now trying to salvage approximately ₹7-8 crores from the dismantling process.
The financial fallout from the relocation is evident as substantial alterations were made to the urban landscape. Roads were dug up and meticulously re-laid, medians were obliterated, streetlights were removed, and pavements razed to accommodate the needs of the F4 street racing spectacle.
Approximately ₹30 crore had been allocated for advertising, promotion, leasing viewing galleries, installing barricades, implementing safety measures, streetlights, and road reconstruction. According to report by Times of India, the government could not recover the expenses for leasing viewing galleries and VIP lounges.
A closer look at the financial breakdown reveals that around ₹7 crores were directed towards civic infrastructure, while additional funds were allocated for leasing viewing galleries and stands. Unfortunately, the lion’s share of these expenses is deemed non-retrievable, adding a layer of fiscal complexity to the situation.
Organizers of the event are now contemplating the future of the roads around Island Grounds, hinting that a reassessment and potential redo might be necessary if the F4 race is slated to return to the venue next year.
The TOI report noted that the roads once done have to undergo FIA international certification and that it cannot even have even small bumps. It was also noted that additional money would’ve to be spent to redo the roads based on its wear and tear at that time.
The fallout extends beyond the financial realm, with the once vibrant and purposeful infrastructure now lying dormant and abandoned around Island Grounds.
The relocation of the F4 race to Irungattukottai adds another dimension to the narrative, with close to ₹30 crore already spent before the event’s change of venue.
F4 street racing infrastructure set up last month around #IslandGrounds being dismantled as the event won’t happen there anymore.
Out of Rs 40 crore budget, close to Rs 30 crores was spent for this while TN govt is trying to retrieve some Rs 7-8 crores. Good roads were dug up… pic.twitter.com/FG4AShwAR6
— Omjasvin M D (@omjasvinTOI) December 16, 2023
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