Saturday, 24 February, 2018

Singapore to host F1 World Championship until 2021

Red Bull driver Daniel Ricciardo of Australia steers his car into the pit lane during the second practice session at the Singapore Formula One Grand Prix on the Marina Bay City Circuit Singapore Friday Sept. 15 Singapore to host F1 World Championship until 2021
Vera Richards | 17 September, 2017, 01:39

SINGAPORE has secured a deal with Formula One to keep its grand prix on the calendar until 2021.

Felipe Massa: "While we have three night races, Singapore is the only one in the middle of the city, in the middle of the night, and it's great". The Singapore Formula One Grand Prix which will be held on Sunday, Sept. 17, 2017.

Therefore, after much speculation over the past few weeks, there will continue to be at least four power unit suppliers in Formula 1 over the next three years, with the ten teams now entered in the championship using either Honda, Renault, Mercedes or Ferrari engines.

F1 chairman Chase Carey said he was thrilled about the new contract.

Liberty Media had taken complete control of F1 in January, ending Bernie Ecclestone's 40-year reign at the helm of affairs.

Carey has big plans to expand F1's reach, both in terms of adding more races and increasing its digital appeal, an area largely neglected by Ecclestone. "We have so far not got a chance to engage in depth yet, it has only been a little over half a year since the complete change in ownership", said Carey in response to a PTI query. But Asian in general is tremendously important. "Asia and the Americas are truly unique opportunities for us".

The cost of hosting the race around the Marina Bay Street Circuit was estimated to cost around $150 million each year, although Mr Iswaran said costs had come down by about $15 million a year. During Ecclestone's tenure, contract negotiations were often hard for track owners struggling with rising costs and dwindling gates.

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