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Singapore to continue hosting Formula 1 Grand Prix until 2021

17 September, 2017, 21:57 | Author: Alberta Rodriguez

Ricciardo, ranked fourth but outside title contention this year, is adamant he can provide a strong challenge.

When asked if it would be okay to race at night in the race, Grosjean said: "I've got no idea - and that is the concern I've always had with this race". In its first decade, the race has yielded significant economic benefits, attracting over 450,000 global visitors to Singapore and about S$1.4 billion in tourism receipts (Inclusive of projected worldwide visitor arrivals and tourism receipts for 2017). The Singapore Grand Prix, the Singapore Tourism Board and the Singapore Government have all done an excellent job of making this an event that involves the whole city.

Red Bull will hope to spoil the party for both the works teams as the fans are in for a treat where there are three teams which are major contenders for the race.

While there have been calls for new initiatives, Mr Chase Carey, chief executive of F1, did not commit to tangible changes despite the growing sense that F1's new owners will bring an American feel to the sport.

However, with the twists and turns to come in Singapore, he is anticipating a tough weekend.

The Agreement is a contract signed among motor sports governing body FIA, F1 teams and the Formula One Group - the group of companies that promote the sport. This however, is no longer case, as the country has made a decision to renew its contract with Formula 1 until 2021.

The announcement, prolonging the distinctive night race which has been dubbed F1's "crown jewel" and the "Monaco of the East", comes after neighbouring Malaysia chose to cancel its grand prix, citing rising costs. It has also created good opportunities for Singaporeans and the local business community. The road closures have been a bugbear for motorists and some retailers in the Marina Bay area.

Liberty Media, a conglomerate with assets such as concert organiser Live Nation and Viacom, will likely be a useful partner. Well, there might be some great news in store. In addition, it is keen on introducing limitations on team budgets to make the sport more competitive and attract new viewers.

Following the demise of the Malaysian Grand Prix, which will be held for the last time on 1 October, it will be the only race in the region.

Asia will only host five out of the 21 races in 2018 as Malaysia goes off the calendar post this season.

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