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Formula One Asian expansion stalls amid growing losses

Japan the clear winner as motor racing's glamor sport fades across the region

Red Bull Racing F1 driver Daniel Ricciardo -- the only driver from the Asia-Pacific region -- during the first practice session on March 24 at the Australian Formula One Grand Prix in Melbourne.

SEOUL -- When the 2017 Formula One season motor racing gets underway in a roar of engines on Melbourne in Sunday, it will signal the start of another crucial year for the sport, especially in the Asia-Pacific region.

Boasting the fastest race cars in the world, built by prestigious manufacturers such as Ferrari, Mercedes and McLaren Honda, Formula One is one of the most glamorous global sports. In 2004, Formula One's then-CEO, the eccentric British billionaire Bernie Ecclestone, declared that Asia was the future.

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