'We want F1 Grand Prix'

Ken Livingstone wants London to stage an annual Formula One Grand Prix through the streets of the capital following the crowd-pulling success of last night's thunderous display along Regent Street.

More than 500,000 people gathered to watch eight F1 cars roar at ear-splitting volume and there are now high hopes it can be turned into a regular event along the lines of Monaco.

Mr Livingstone announced a bid to stage a grand prix in London within four years, to boost tourism and prove to the International Olympic Committee that the city can handle major sporting events.

The Mayor believes it would rank alongside great urban sporting events such as the closing stage of the Tour de France and the Olympics.

He said: "We are serious about this. A grand prix on the streets of London could attract two million tourists. People who wouldn't normally get to a grand prix or afford to go to Silverstone could come on public transport. If Monaco can do it, we can.

"We have told [F1 boss] Bernie Ecclestone we are very serious about this. Every hotel room would be full and every seat in every restaurant would be taken during a grand prix weekend. We will bust a gut to put on the best race in the world.

"Whatever we spend we would get back because it would be a great investment." The bid is being considered by Ecclestone, who is thought to be willing to abandon Silverstone as a venue for the British race if London can prove a viable alternative.

His decision to stage last night's demonstration five days before the British Grand Prix is being seen as an enthusiastic endorsement.

Buckingham Palace is said to support the use of Hyde Park and The Mall as part of the dramatic route. There was strong support for the plan among many drivers who raced their 900-horsepower machines the length of Regent Street in front of screaming fans.

Veteran driver Nigel Mansell, the 1992 world champion, said: "This would be the greatest grand prix in the world. The backdrop and the enthusiasm of the British people would be fantastic. They have the infrastructure here, they have the organisation. It could be absolutely sensational. It has got to help the Olympic bid as well."

Jenson Button, who competes at Silverstone this weekend, said: "It would be the most awesome race ever. I would love it here." Juan Pablo Montoya said: "Hyde Park Corner would be really good. All those corners around there ... even in your own car that's really fun."

Westminster council leader Simon Milton said: "We would love to put the Grand Prix on here in London with a circuit based around its memorable sights and buildings."

But the plan is bound to face opposition from environmentalists concerned it sends out the wrong signals about tackling congestion and pollution. There are also serious questions about where spectators could stand to watch the cars in safety while enjoying a clear view.

Last night the eight cars started at Waterloo Place before turning into Great Marlborough Street, Little Argyll Street and Regent Street to Trafalgar Square, completing the lap at restricted speeds of up to 75mph. In a real race, speeds would be much higher.

Hundreds of thousands of fans jostled for space along the main route, with many clambering on rooftops and lamp posts to seize a vantage point.

Huge screens beamed live pictures of spectacular spins and maneouvres Organisers discovered the logistical challenges after last night's parade was cut short due to the huge crowds.

Police turned away thousands more who wanted to see the demonstration. Instead of the planned running time of 6pm to 7.45pm, the parade was squeezed into just 45 minutes, starting one hour late at 7pm.

A Scotland Yard spokeswoman said: "In consultation with the Met, the organisers decided to compress the event, otherwise it would have run severely over time."

Barry Hardy, chief operating officer of London Clubs International whose sponsorship helped bring about the display, said the show proved London's ability to host major events. Mr Hardy said: "It is a reflection of how the capital has become a centre of sporting and entertainment excellence."