F1 »

Singapore GP future rests on balance sheet

Singapore politicians have said that the financial impact of the race will determine its future beyond 2012, even though Bernie Ecclestone refers to it as the 'jewel in F1's crown'.
Politicians in Singapore have admitted that staging a grand prix on the streets of the city-state will not be a foregone conclusion when it comes time to renegotiate the race's contract with Bernie Ecclestone, despite the latter revealing that he's love the event to remain a part of the F1 calendar for a long time yet.

Speaking ahead of the third running of F1's only night race, the sport's ringmaster was in effusive mood, claiming that the new 'jewel in F1's crown' should remain unchanged 'for another 20 years', but those paying for it admitted that any future beyond the end of its current deal, in 2012, would only be decided after consulting the balance sheet. The initial five-year deal has a two-year extension option built in.

Although the majority of the paddock enjoys the novelty of a night race, particularly in such a cosmopolitan and vibrant location, and the hotel trade reported near 90 per cent occupancy over the weekend, there is no guarantee that those in power will share the excitement, having confirmed that 'a thorough cost-and-benefit study' would be needed before any decision was taken.

"We've gone through three quite different years in our experience with F1," the local Straits Times quoted senior minister of state for trade and industry S.Iswaran, "They give us a good set of data points from which to assess the F1 from. We want to make sure the economic benefits are justifiable going forward. I would say the decision to proceed will rest on a robust cost-benefit analysis, and clearly the terms on any deal we get going forward."

Although Ecclestone is likely to throw his support behind the race in an effort to keep it on the calendar, any sign of weakness could be seized upon as other countries queue up to host races on a calendar that appears to be reaching bursting point at 20 races.

With India scheduled to join the fray next season, despite its site resembling little more than a muddy field at present, and the USA, Rome and Russia also being lined up as expected venues, Ecclestone has again warned that even established hosts, particularly those that had outlived their usefulness, could be culled to make way, hinting that the F1 schedule would move inexorably towards Asia.

“For years and years, I have been saying the world has been moving this way- moving east, not west,” he told the Straits Times.

Related Pictures

Click on relevant pic to enlarge
Saturday Practice, Robert Kubica (POL), Renault F1 Team, R30
Saturday Practice, Nico Rosberg (GER), Mercedes GP F1 Team, MGP W01
Friday Practice 1, Rubens Barrichello (BRA), Williams, FW32
Singapore Grand Prix
09.07.2017- Bernie Ecclestone (GBR) and Niki Lauda (AUT) Mercedes Non-Executive Chairman
09.07.2017- Mark Webber (Aut) and Bernie Ecclestone (GBR)
09.07.2017- Bernie Ecclestone (GBR) and Fabiana Flosi (BRA) his wife
07.07.2017- Bernie Ecclestone (GBR)
07.07.2017- Bernie Ecclestone (GBR)
07.07.2017- Bernie Ecclestone (GBR)
25.06.2017 - Fabiana Flosi (BRA), Wife of Bernie Ecclestone
25.06.2017 - Fabiana Flosi (BRA), Wife of Bernie Ecclestone
25.06.2017 - Bernie Ecclestone (GBR)
25.06.2017 - Bernie Ecclestone (GBR)
25.06.2017 - Bernie Ecclestone (GBR) and his wife Fabiana Flosi (BRA)
25.06.2017 - Fabiana Flosi (BRA), Wife of Bernie Ecclestone
25.06.2017 - Bernie Ecclestone (GBR)
24.06.2017 - Free Practice 3, Bernie Ecclestone (GBR) and Flavio Briatore (ITA)

Join the conversation - Add your comment

Please login or register before adding your comments.

Although the administrators and moderators of this website will attempt to keep all objectionable comments off these pages, it is impossible for us to review all messages. All messages express the views of the poster, and neither Crash Media Group nor Crash.Net will be held responsible for the content of any message. We do not vouch for or warrant the accuracy, completeness or usefulness of any message, and are not responsible for the contents of any message. If you find a message objectionable, please contact us and inform us of the problem or use the [report] function next to the offending post. Any message that does not conform with the policy of this service can be edited or removed with immediate effect.


September 27, 2010 7:45 PM

True rob Singapore like Hong Kong are concerned with one thing...making money. If the GP, didn't make any money why keep it? To be fair any city would want to make money on a major event at the same time benefit from it besides the organizers put in big bucks to promote it and their city like crazy!

© 1999 - 2017 Crash Media Group

The total or partial reproduction of text, photographs or illustrations is not permitted in any form.