Azerbaijan makes $ 506.3 million profit on Formula 1

"From the very first day, we have evaluated Formula 1 as an economical and long-term project since such projects have a positive impact on the economy," Head of Marketing and Communications at Baku City Circuit Nigar Arpadarai said.

She was commenting on preparations for the 2020 Azerbaijan Grand Prix in Formula 1.

Arpadarai also touched upon the income generated by Formula 1 race: "During four years Formula 1 Azerbaijan Grand Prix brought $ 506.3 million (860 million AZN) to Azerbaijan's economy."

Notably, the 2020 Azerbaijan Grand Prix will take place on June 5-7.