On the weekend in which the Marina Bay Circuit will hold its 10th Grand Prix, the Singapore race promoters have announced it has signed a four-year contract extension.
In a press conference held today by Liberty Media, the race promoters and the Singapore Tourism Board, Formula 1 chairman Chase Carey emphasised the race as having attained an iconic status.
“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,” he 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.”
Sean Bratches, F1’s commercial director, has previously emphasised city-based races and location grands prix as a key target of future calendars.
Singapore’s Minister for Trade and Industry S. Iswaran told reporters that the event has delivered a “year-on-year plus 19%” improvement in circuit attendance, and highlighted the race as having economic benefits and as a showcase for the city with an international audience.
The announcement came following a year of pessimism regarding the future of the race, with the cancellation of the Sepang’s circuit’s contract leading many to suggest that the Singapore race might follow.
