Official: Singapore on the calendar until 2017
Quickly becoming a flagship event in Formula 1, Singapore will continue its journey with the discipline for the next five seasons.
The only F1 World Championship event to take place entirely at night, the Singapore Grand Prix has secured its spot on the calendar for the next five seasons. The race, part of the F1 Circus since 2008, has gradually established itself as an essential destination for the premier discipline of motorsport, praised for its uniqueness, difficulty, and prestige.
Shortly after the third practice session held at the Marina Bay Circuit, a press conference with the event’s organizers and promoters, as well as the president of Formula One Management, Bernie Ecclestone, announced the new agreement. “Everyone, without exception, loves being here, which makes negotiations difficult for us. We are here for the next five years,” notably stated B. Ecclestone.
The negotiations took time because both parties had specific objectives. The Government of Singapore conducted a detailed study of the costs and benefits in the event of continuing [this Grand Prix]. F1 has been a good thing for Singapore, strengthening our image as a global city with a vibrant lifestyle. Singapore has also been a good thing for Formula 1, introducing a popular and unique event there, said Lim Hng Kiang, Singapore’s Minister for Trade and Industry.
The organizers, on their part, indicated that a revision of the agreement between Singapore and the FOM had taken place, leading to a reduction in the event’s organizational costs. As a reminder, the profits from the Singapore Grand Prix, including the benefits linked to the arrival of additional tourists, are estimated at 140 million dollars (around 108 million euros). A sum that almost covers the expenses incurred according to the city-state’s executive.
