F1 : No Ferrari no Monaco Grand Prix but India and Campos Meta 1 on the cards

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The terms 'Monte Carlo' and 'economic recession' do not usually go together, but it is impossible to ignore the deceleration of glitz on the verge of the Monaco Grand Prix this year.

Usually brimming, there are notably empty seats in the grandstands, fewer and less impressive super yachts in the harbour, plenty of hotel rooms to rent, and "less going on than in the past", German driver Nick Heidfeld observed to Auto Motor und Sport.

Slim

The global economic recession has not foiled plans for an Indian Grand Prix, according to Vijay Mallya, owner of the Force India team and a high ranking Indian motor racing official.

"I am very optimistic that (the circuit) will be built on time and that we will have our first Grand Prix in 2011," he said at Monaco.

Of the new 'second-tier' teams applying to join the elite championship, the sports daily Marca claims Pau Gasol, a Spanish basketball player for the LA Lakers, and one of the world's richest billionaires Carlos Slim, are involved in Adrian Campos' plans for a Formula One team in 2010.

Spaniard Campos, a former Minardi driver, submitted an official entry on Friday for a budget capped team named Campos Meta 1. Pedro de la Rosa was mentioned as a possible driver.