Motor Racing: Singapore extends grand prix contract to 2017


xtemujin

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Motor Racing: Singapore extends grand prix contract to 2017
Posted 22 September 2012 Saturday | 1915 hrs

SINGAPORE: Singapore has agreed on a deal with Formula One to extend the country's grand prix contract for another five years until 2017, following months of hard bargaining for cheaper fees.

No price tag for the new deal to 2017 was revealed, but Formula One commercial rights-holder Bernie Ecclestone said repeatedly that the Singapore government had proven tough negotiators.

"It was difficult for me to negotiate," said Ecclestone, sitting next to Singapore's Second Minister for Trade and Industry S. Iswaran for the announcement ahead of Sunday's grand prix. Mr Iswaran is also a Minister in the Prime Minister's Office and Second Minister for Home Affairs.

"He's not easy to deal with and I can't understand why he was complaining about us using the streets and wearing out the streets," he joked. "But we eventually got there and I'm very, very happy. We're all here for another five years."

High costs have caused friction for several hosts of Formula One, which has expanded aggressively from its traditional European domain with seven races in the Asia-Pacific region this season.

Singapore is also one of several grand prix hosts to complain about the high race fees it pays to Formula One. When pressed by journalists on whether Singapore had won a cheaper deal, Ecclestone was coy.

"I always believe these questions shouldn't be asked," he said, when pressed on the contract's price-tag. "A gentleman should never speak about money and last night."

Ecclestone added: "Let me tell you how serious the minister is: you'll be paying for your seat on the way out."

The Singapore race, one of seven held in the Asia-Pacific region this year, has been watched by more than 360 million TV viewers, according to government figures, and won universal praise from teams and drivers this week.

"This is the fifth Singapore Grand Prix and it's already a great grand prix, great atmosphere, great city," McLaren team principal Martin Whitmarsh said earlier on Saturday.

The Singapore race was first held in 2008 on the Marina Bay street circuit and has become a social highlight of the Formula One calendar that rivals Monaco and Abu Dhabi as a draw for dealmakers and corporate heavy-hitters.

According to Mr Iswaran, the race has attracted more than 150,000 visitors spending over S$560m in the past four years.

Mr Iswaran said: "From an economic perspective, the F1 Singapore Grand Prix has attracted more than 150,000 international visitors over the last four years, and about S$140m to S$150m in incremental tourism receipts each year. For the extended term, we expect benefits to remain at least at this level."

With the cost of organising each race pegged at about S$150m - the government co-funds 60 per cent of the bill - Mr Iswaran stressed that the government would like to reduce costs through factors such as infrastructure, operational efficiencies in race organisation and revised terms with the race promoter and Formula One Administration.

While some tweaks could be made to the current Marina Bay Circuit, there are currently no plans to make significant changes to the 5.073km track.

Formula One's hefty race fees have long been a problem for hosts. In 2008, Chinese Grand Prix organisers told AFP they were prepared to walk away from Formula One, before later extending their deal.

The Australian Grand Prix has been the subject of controversy with estimates that it costs local taxpayers A$50 million to stage.

- AFP/CNA/xq/ir

Motor Racing: Singapore extends grand prix contract to 2017 - Channel NewsAsia
 

Shizuma

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more 70-200 2,8 lenses will be sold
 

Reportage

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Singapore cannot afford the $150 Million full budget to host the race?

Now that is troubling. As long the cuts do not compromise safety.
 

kei1309

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awesome race :D

met up with people that i lost contact with after last year's race

what a coincidence that i ran into them at the exact same location
 

Bukitimah

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Nov 28, 2010
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#8
I am one of those that do not agree that the f1 should continue at the current location. Singapore is such a small country, even the race is held at changi or Jurong, people can still see our skyline. The whole idea of holding at the current location only benefits the hotels around that vicinity. :sweat:

If the government has committed, we just got to take that. How about LTA waive all the ERP gantry during the disrruption? People willing have more options to bypass this area to get to works or home. On the Friday, declare a holiday. Anyway we only have that little public holiday here.

I try to leave office by 5.30 on Friday. By the time I reach the car park, most already left earlier! You should see the jam at AYE :thumbsd: 93.8 DJ ask why are they still heading that way???
 

ed9119

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. The whole idea of holding at the current location only benefits the hotels around that vicinity. :sweat:

i love it in the city

1. easy access via MRT
2. only a few days inconvenience a year if you are driving .... good chance to take Bus or MRT to know our country better
3. good chance to know other parts of Singapore better if you want to avoid the race weekend
4. we can get to actually drive around the circuit the few days before Friday under the night lighting
5. how are they going to fill up the calendar if a permanent race circuit is built ? (Turf Club, Sepang and Pasir Gudang are sorry pathetic on weekdays... sometimes even on weekends)
6. we need that land for housing/condos ha ha ha :)
 

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Kit

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Having the race in Marina Bay is the ONLY reason why they came here. If not, its just another Sepang track. However, I can understand that coming from a non F1 fan. If I can choose only one major inconvenience in the city a year, it has to be F1!
 

Kit

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and Singapore is probably one of the few (or only) venue that can still make $$$ from F1 after 5 years.....
 

kei1309

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Having the race in Marina Bay is the ONLY reason why they came here. If not, its just another Sepang track. However, I can understand that coming from a non F1 fan. If I can choose only one major inconvenience in the city a year, it has to be F1!
precisely.

people complain that Mom and Pop stores don't make money.

but Formula One isn't designed to tell tourists to come to singapore just for 3 days a year. it's designed to tell people about Singapore. you'll be surprised at how many people still don't know we exist... :D
 

Bukitimah

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#13
I can appreciate why they want the city for the race. I am very sure we have debated this before agreeing, knowing Singapore, this decision must have come from the top.

While we want it, we must also understand those that are affected. Business cannot just uproot themselves out from the city for a week to enjoy the holiday while the rent still continues.

If we are making millions, then we should be prepare to spend some. Open up ERP gantries, provide free buses and MRT to affected areas. Encourage companies to have a Family day on that Friday. Let staff go home at 3 pm to spend time with family. Those who wish to shop can use public transport.

Hope the disruptions next year will be less.
 

Big Kahuna

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#14
For that kind of money thrown in so far....might as well find a piece of land at ubin or tekkong and franchise a Disneyland.....there 20+ races a year but there is less than half dozen of the theme park in the world....I guaranteed and chop they will be more tourist all year round instead of 3 days.....and it will not inconvenient the cbd users :) And another tangible benefit is sporean might do more babies since without a kid they won't have much excuse to tour the park :)
 

kei1309

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For that kind of money thrown in so far....might as well find a piece of land at ubin or tekkong and franchise a Disneyland.....
it's not that we can't have a Disney here. Disney chose HK over Singapore years ago. it makes no sense for them to have 2 parks so close to one another as well.

there 20+ races a year but there is less than half dozen of the theme park in the world....
Then where is the uniqueness of a NIGHT STREET race? this is the reason, as Kit pointed out above. if you have 20 races a year, it'll cause more congestion in the local transport system. and that's a contradiction to what you're talking about.

and it will not inconvenient the cbd users
you're complaining about a total of 3 days of lock-down of the CBD area?

And another tangible benefit is sporean might do more babies since without a kid they won't have much excuse to tour the park :)
rubbish. have you not seen couples who go there without kids? especially USS and all other theme parks. you don't need to have kids to go there.
 

Rashkae

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Big Kahuna said:
For that kind of money thrown in so far....might as well find a piece of land at ubin or tekkong and franchise a Disneyland.....there 20+ races a year but there is less than half dozen of the theme park in the world....I guaranteed and chop they will be more tourist all year round instead of 3 days.....and it will not inconvenient the cbd users :) And another tangible benefit is sporean might do more babies since without a kid they won't have much excuse to tour the park :)
They wanted to have a Disneyland in the yishun/khatib area but Disney decided there would not be enough visitors
 

kei1309

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They wanted to have a Disneyland in the yishun/khatib area but Disney decided there would not be enough visitors
which makes me feel that Singaporeans love to complain, but have no idea what they're complaining about :bsmilie:
 

Kit

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#18
which makes me feel that Singaporeans love to complain, but have no idea what they're complaining about :bsmilie:
That's true. I think some had gone way overboard with their complaints and they shouldn't be taken seriously anymore. Look at what you get on Yahoo.
 

Big Kahuna

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#19
kei1309 said:
it's not that we can't have a Disney here. Disney chose HK over Singapore years ago. it makes no sense for them to have 2 parks so close to one another as well.

Then where is the uniqueness of a NIGHT STREET race? this is the reason, as Kit pointed out above. if you have 20 races a year, it'll cause more congestion in the local transport system. and that's a contradiction to what you're talking about.

you're complaining about a total of 3 days of lock-down of the CBD area?

rubbish. have you not seen couples who go there without kids? especially USS and all other theme parks. you don't need to have kids to go there.
U don't need to study geography to know shanghai is nearer to hkg than Singapore.

And what so unique about night street race? Many Liverpool and MU fans rather watch EPL than the boring 20+ race kart circling around the enclosed track.....u ask any American their Nascar is many times better than these toy cars..

Did I complain about rhetoric 3 days cbd locked down? U have very good imagination....

Yes, u don't need a kid to go Disney but u do miss the joy of having kids companionship in Disney.
 

kei1309

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#20
Did I complain about rhetoric 3 days cbd locked down? U have very good imagination....
Then what exactly are you complaining about? i quote you:

and it will not inconvenient the cbd users
:think:

Yes, u don't need a kid to go Disney but u do miss the joy of having kids companionship in Disney.
that's you. not everyone.

sheesh. why do Singaporeans love to lump the majority together as if everyone's the same?
 

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