Singapore 5 more years on the calendar

The Singapore Grand Prix became the first Formula 1 race to take place at night in 2008. The Asian city-state had signed a 5-year contract at the time, which was set to expire at the end of the year 2012.

A government official recently stated that Singapore wished to continue with F1, provided it could have an economically viable contract – in other words, a reduction in the hosting fees for Formula 1. Singapore is currently paying 40 million dollars each year to host Formula 1, which is twice as much as Malaysia, for instance.

Bernie Ecclestone, the F1’s chief financier, told the Singaporean daily Today that negotiations have been concluded and the formalization of the extension, covering 5 years, should proceed according to the government’s decision: «Everything that was hindering the extension of the Singapore Grand Prix for an additional five years has been resolved. I am happy about this because Singapore is a good thing for F1 and a night race is also a good thing for Singapore.»

With this five-year contract extension, Singapore is therefore guaranteed to be on the calendar until 2017, which delights Ecclestone, who has always appreciated this unique event: « It has always been my intention to see this Singapore race continue beyond the current contract. Now that negotiations are over, I am looking forward to going to Singapore for this year’s race because it is an event I have always enjoyed. »