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emfizz.com November 25, 2017


Singapore GP to remain in Formula 1 Worlds until 2021

17 September 2017, 12:19 | Andy Ferguson

Lewis Hamilton leads the drivers championship by three points from Ferrari's Sebastian Vettel

Lewis Hamilton

The Singapore Formula One Grand Prix which will be held on Sunday, Sept. 17, 2017.

Chase Carey, the chairman and CEO of Formula One, said the race was "a signature" of the World Championship calendar - and one of its most "thrilling events".

The motorsport series came under new ownership this year when the USA sports and entertainment firm Liberty Media bought out investment fund CVC Capital Partners, and Carey ended Bernie Ecclestone's reign lasting almost 40 years.

F1 bosses have also negotiated an additional three races, and have extended the deal for three years, to ensure reliable coverage of the main event for the French fans.

"We're in the early days of the plans we have for the future", Carey said. But Asian in general is tremendously important.

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Now into its 10th edition, the Singapore Grand Prix is the sport's first night race and has been a successful and unique blend of F1 action, its party atmosphere and business networking opportunities.

The cost of hosting the race around the Marina Bay Street Circuit was estimated to cost around $150 million each year, although Mr Iswaran said costs had come down by about $15 million a year.

Meanwhile, Lionel Yeo, Chief Executive of the Singapore Tourism Board, stated that the race has provided an excellent platform for businesses to test bed new lifestyle initiatives and products.

Because it is a street circuit, like the iconic Monaco GP, the planning implications could be troublesome if any changes were made.



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