F1 announces Singapore GP contract extension

The Singapore Grand Prix will remain on the Formula 1 calendar through to 2021 following the announcement of a new contract on Friday.

Singapore joined the F1 calendar back in 2008 as the sport’s first night race, and is celebrating the 10th staging of the grand prix at Marina Bay this weekend.

However, questions still lingered over the future of the race given it was without a firm contract beyond the end of this year, only for a fresh deal to be confirmed on Friday.

F1 CEO and chairman Chase Carey was joined by S. Iswaran, Singapore’s minister for trade and industry, Mr Ong Beng Seng, Singapore GP Pte Ltd, and Mr Lionel Yeo, chief executive for the Singapore Tourism Board to announce the deal that will run for a further four years.

"The Singapore Grand Prix is a signature Formula 1 race and therefore we are very pleased that it will continue to feature on the calendar for a further four years," Carey said.

"The first ever night race in this sport is one of the most thrilling events of the year, taking place against the stunning backdrop of Marina Bay. 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.

"We are looking forward to offering our continued support to make the next four years even more spectacular and exciting.”

Iswaran added: "“The F1 Singapore Grand Prix has generated significant benefits for our economy as well as the Formula 1 franchise. With its global viewership and media coverage, the race has reinforced Singapore’s image as a vibrant and innovative city to a wide international audience. It has also created good opportunities for Singaporeans and the local business community.

"We look forward to the continued support of all Singaporeans as we work with Formula 1, Singapore GP, and all stakeholders, to ensure the F1 Singapore Grand Prix remains an event that we can all be proud of."