yes!!! it's official...singapore will host a leg of the formula one grand prix starting 2008...hurray!!! finally will get to see the whole F1 circus live instead of just following it on the boobtube...this will be some showcase for singapore...personally, i can't wait for it to come a moment too soon...already making plans for watching it next year with my friends
The chequered flag is finally is sight, signally an end to the months of behind-the-scenes wrangling and on-and-off media speculation.
Singapore will host a Formula One race in 2008, and it may be a night race, Minister of State for Trade and Industry, Mr S. Iswaran told press conference today. He said Singapore has won the right to host the race for five years, with option to extend for another five years, and it expects annual tourism receipts from the event of about S$100 million.
The rights were secured by Singapore property tycoon Ong Beng Seng, who has been leading the charge to bring the F1 race here. Mr Ong, who was also at the press conference, said that it has taken 12 "difficult months" to reach the decision to host the F1 race and the next 16 months will be challenges.
Mr Ong, with three others, has formed a company, Singapore GP Pte Ltd, with a capital of 20 million shares of $1 each. Under one of the pre-requisite fields, the company's activity has been described as 'event promotion'.
Ong is the controlling shareholder of mainboard-listed Hotel Properties Ltd, which owns Hard Rock Cafe. He is also the majority shareholder of Komoco.
The first race will take place in September or early October next year in a street circuit around Marina Centre, said the beaming minister, and it could "potentially" be the world's first night race, but organisers are still looking at safety issues. "A night race will be unique, different and allow the Singapore event to reach out to television audiences in Asia, Europe and the US. Safety is of paramount concern to all of us," said Mr Iswaran. Therefore, we will proceed with a night race only if the safety and operational requirements of all parties including the FIA, FOA and Formula 1 teams are fully met. If not, we will revert to a day race."
He said the government would cover 60 per cent of the estimated annual cost of up to S$150 million and that an extra hotel tax would be charged during the race week to help meet the costs.
FI Supremo Bernie Ecclestone expressed his enthusiasm at the prospect of a night race in Singapore. "Singapore is going to be the leader with the street race at night. Everyone's excited about the idea," he said via teleconference from Spain.
Singapore's announcement comes a day after Ecclestone confirmed that Valencia, Spain, would also stage a F1 race in 2008 on a street circuit. The eastern Spanish city will hold F1 races for seven years beginning next year.
The F1 race will be on a 4.8 kilometre (three-mile) street route proposed by designer Hermann Tilke.. The planning for the street circuit in Singapore is well advanced with Tilke's engineering team having now come up with a masterplan for the track, although the actual layout came from Singapore itself.
It is clear from this that there will need to be considerable work done to construct a pit and paddock area in what is currently the Marina Promenade Park. If all goes to plan this will lead down to the vast Singapore Flyer, a Ferris wheel that will dominate the entire area. The track will go around this and then turn right and left to get on to Raffles Avenue from where it will run up to the junction with Esplanade Drive, where there will be a hairpin which will send the cars south across to the bridge to the Fullerton Hotel. The parallel bridge will be used for grandstands. In front of the Fullerton Hotel the track will turn to the right and cross the Singapore River to the Empress Place development and the Civic District. The track will then turn right down St Andrew's Road, passing City Hall and St Andrew's Cathedral. It will then go through an fast right-left onto Beach Road and will skirt around War Memorial Park, with the Raffles Hotel Complex on the left. It will then go down Raffles Boulevard before turning left into the Suntec City development at Temasek Boulevard. This will take the cars up to the circle in the centre of Suntec City. They will then go round the circle and exit on Temasek Avenue, back down to Raffles Boulevard, where a 90-degree lefthander will take the circuit under the motorway and back into the Marina Promenade Park.
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