Singapore Grand Prix
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It has been reported in recent news articles that at least two consortiums have been in negotiations with Bernie Ecclestone about the prospect of hosting a round of the FIA Formula One World Championship as early as 2008. The proposal is for a street circuit similar to that of the legendary Monte-Carlo circuit in Monaco or the Albert Park circuit in Melbourne, Australia. One of the groups bidding for the rights, being backed by tycoon Ong Beng Seng, recently stated that agreement needs to be reached by April 2007 if Singapore is to have any chance of hosting a race. At the same time, speculation that Singapore would host the first night race was also confirmed. The second group is being backed by Arthur Tay.
Current speculation suggests that a deal has been reached between one of the groups and Bernie Ecclestone. An announcement was expected during the 2007 Australian GP weekend, but should be confirmed in the coming weeks [1]
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[edit] The Circuit
The location of the track is as yet unknown, however a circuit designed by renowned designer Hermann Tilke has already received in principal approval. The track will most likely feature the Tilke trademark long straight followed by a hairpin, however Tilke may be forced to forgo this with the limitations of a street circuit. On a trip to Singapore during 2006 FIA president Max Mosley stated that the streets of Singapore were wide enough to host a race and that Singapore would also be a welcome addition.
[edit] Economic Benefits
It is thought that the economic benefits of hosting a round of the FIA Formula One World Championship could be up to and beyond $100 million through the influx of visitors into the country and agreements with local suppliers. The cost of hosting a round of the series would be around $35 million.
[edit] Criticism
Some would argue that the proximity of Malaysia to Singapore should prevent it from hosting a race. Malaysia already holds the Petronas Malaysian Grand Prix a mere 300km from Singapore. However, this kind of issue appears not to bother Bernie Ecclestone who recently announced that Abu Dhabi would host a race from 2009, while only days earlier agreeing to extend the right of Bahrain, which is 453km away, until 2013.
The construction of a purpose built track is also seen as waste as for the most part of a year the track would be white elephant taking up already scarce land. This is why one of the bidding groups has proposed a street circuit.
