Formula One has signed a seven-year deal to keep the Singapore Grand Prix on its schedule until 2028.
The street circuit debuted as F1’s first night race in 2008 and has become a high-profile event on the calendar ever since.
The race was cancelled in 2020 and 2021 due to the COVID-19 pandemic, but is set to return this year and remain as part of F1’s expanding schedule through to 2028.
The deal was struck by F1 with the Singapore Grand Prix promoter and the country’s tourist board. Singapore’s previous contract was a four-year deal agreed in 2017, meaning it expired in 2021.
“I am delighted that Formula One will continue to race in Singapore for another seven years,” F1 CEO Stefano Domenicali said. “The Marina Bay Street Circuit hosted the first night race in F1 history in 2008, and Singapore has continued to thrill fans, teams, and drivers ever since.
“Singapore holds a special place on the F1 calendar, and this extension is part of our long-term commitment to continue to grow the sport in Asia. The plans that are in place to reduce the carbon footprint of the event are impressive and align with our plans to be Net Zero Carbon as a sport by 2030 and I look forward to continuing our successful relationship with Singapore GP and the Singapore Tourism Board as Formula One returns to this incredible city.”
The contract announcement included details of how the race promoters intend to make the floodlit event more sustainable, including “switching to renewable energy resources” and “increasing recycling efforts”.
Mr S Iswaran, Singapore’s Minister for Transport & Minister-in-charge of Trade Relations, said the extension of the deal was key to tourism in the country.
“Even as we deal with the immediate challenges of the pandemic, it is important that we focus on our recovery and long term growth. The Singapore F1 race continues to be a strong focal point for tourists, global events and business meetings. We have decided to continue hosting the F1 race for another 7 years, after thoroughly evaluating the long term benefits that a term extension could bring to Singapore.
“The renewal will help sustain Singapore’s reputation as a global city with a vibrant lifestyle, attracting international visitors as travel rebounds, and generating business revenue and jobs for Singaporeans. We will ensure that this year’s and future races, as large scale international sporting events, are COVID-safe, informed by the prevailing pandemic situation and public health assessment.”
There was speculation in recent years that the location of the circuit might move away from Marina Bay, but no mention was made of it in the announcement. However, planned developments around The Float @ Marina Bay, a large grandstand overlooking the bay that offers a viewpoint for a short stretch of the current layout, could mean there are tweaks to the circuit in the future.
Source: www.espn.com