At the end of last year, it was believed that this year’s Singapore Grand Prix could be the final one, with sources revealing that the event organizers were considering pulling the plug on the race. However, it appears they had a change of heart, renewing the event’s contract with the sport.
It was confirmed Friday that there will be a Singapore Grand Prix on the Formula One calendar until at least 2021. The sport and event organizers signed a four-year extension. Reports that the event would disappear began in November of 2016.
Speaking about the new extension, S. Iswaran, Singapore’s minister for trade and industry, had this to say:
“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.”
The event debuted in 2008 at the Marina Bay Street Circuit, becoming Formula One’s first ever night race. The debut race became a big topic in the media because of the infamous “Crashgate” scandal surrounding Renault. The circuit is celebrating its 10th year hosting Formula One this weekend.
“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,” explained Chase Carey, Formula One’s chairman and CEO. “We are looking forward to offering our continued support to make the next four years even more spectacular and exciting.”
