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ABU Dhabi has joined the Formula One Grand Prix calendar, with a renewable seven-year deal to host a race from 2009.
Mallya was part of the small group of businessmen and racing enthusiasts who for years pushed for India to host a race.
Sources suggest that Qatar would have to pay around £50m annually to host a race, topping the record of £46.3m paid by Abu Dhabi and bringing the total fee to around £500m as contracts typically run for 10 years.
The new team is the third stage of the sport's drive into that part of the world, following the inaugural Russian Grand Prix earlier this month and the recent decision to host a race from 2016 in the oil-rich country of Azerbaijan.
The most emotional was certainly Vijay Mallya, owner of the Force India team, who noted that 30 years ago he drove one of his own Formula One cars in India, but that he never believed the day would really come when the country would host a race.
He previously said the Bahrain government were "stupid in a lot of ways" to host a race because of the opportunity it gave political protestors.
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I was the first female in San Francisco to host a racing show.
That will soon change, with Austin, Texas, hosting a race in November and plans for a Grand Prix in New Jersey in June 2013.
Mr Ecclestone has no shortage of calls from countries such as Côte d'Ivoire and Bulgaria seeking the prestige of hosting a race.
Mr. Agag said he received strong interest from Monte Carlo, and in August Rio de Janeiro became the first city to commit to hosting a race, but the prize he coveted most was a presence in the United States.
But as on-track betting has fallen and the races are now being screened in all sorts of places that allow betting but do not stage any races (such as greyhound tracks, casinos and now ADWs), 3% seems a paltry reward for the effort of hosting a race.
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