SINGAPORE has secured a deal with Formula One to keep its grand prix on the calendar until 2021.
With ideal timing, the medium-term future of the popular night race has been secured, with a contract being signed for at least four more editions of the Marina Bay Street Circuit race.
Formula One chiefs are in Singapore for Sunday’s grand prix – the 10th edition of the night race through the city-state’s streets.
Chase Carey, the chairman and CEO of Formula One, said the race was “a signature” of the World Championship calendar – and one of its most “thrilling events”.
The new deal backed up Carey’s words at the All That Matters industry conference in downtown Singapore this week.
Speaking at the event, he said: “We haven’t concluded a deal yet, but we’re having positive discussions and it is certainly our goal to try and reach a deal that works for both of us.
“We’re proud of the race, we have a good relationship and our goal is to get to a place where we build on that partnership long-term.”
Two days later, a new deal was announced, and Carey said: “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.
“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.”
From next year, Singapore will be the sole stop that Formula One makes in Southeast Asia, as next month’s Malaysian Grand Prix is to be the last.
In a statement, Formula One said: “Since its debut in 2008, the first ever night Grand Prix is one of the highlights of the F1 calendar and one of the most attractive and spectacular races.
“Over the years, the Singapore event has distinguished itself as one that is not just about the competition, but one complemented by a strong line-up of concerts, entertainment and lifestyle offerings both within the circuit park and throughout the city.”
With this year’s race taking place on Sunday, the event could have received no better boost than confirmation it will continue until at least 2021.