“The contract has been signed for 10 years. According to this contract, rallies of F1 must be held in Azerbaijan for 5 years. If Azerbaijan decides within 5 years that not to host the races, then we have to pay fine” Azerbaijani Minister of Youth and Sports Azad Rahimov said.

Rahimov informed that Azerbaijan can stop or host the races in the next 5 years of 10-year contract , depending on willingness of country .

"But it has to be held in the first 5 years. The race’s budget currently amounts to 12 million dollars. The budget is formed by the fees and organizations’ expenses that are paid annually. This will be explained as well. Nothing will remain hidden” he said.