{"id":15922,"date":"2012-05-01T06:59:02","date_gmt":"2012-05-01T10:59:02","guid":{"rendered":"https:\/\/www.racinginfocus.com\/?p=15922"},"modified":"2012-05-01T06:59:02","modified_gmt":"2012-05-01T10:59:02","slug":"singapore-eyes-new-race-deal-and-f1-floatation","status":"publish","type":"post","link":"https:\/\/www.racinginfocus.com\/rif\/formula-1\/singapore-eyes-new-race-deal-and-f1-floatation\/","title":{"rendered":"Singapore eyes new race deal and F1 floatation"},"content":{"rendered":"

The fact F1 has chosen the Singapore exchange for the sport’s high profile floatation does not mean the city-state’s popular floodlit street race is guaranteed.<\/p>\n

\"sin-singapore\"The night event’s existing five year contract runs out this year, although a two-year notice clause in the deal means Singapore should stay on the calendar at least until 2014.<\/p>\n

On the face of it, a new deal seemed a certainty, given it was Bernie Ecclestone himself who chose Singapore as the location for F1’s forthcoming floatation.<\/p>\n

“Formula one is known in Singapore, and Asia is thriving.\u00a0 It is a simpler market and not as restrictive,” he said recently.<\/p>\n

Talks about a new race deal “are underway”, the local Business Times reported in March, “but it is understood that one sticking point is the sanction fee.”<\/p>\n

An unnamed banker commented: “The Singapore government wants formula one to be listed here and for that to happen, it knows the race has to remain here.<\/p>\n

“But at the same time, it doesn’t want to pay top dollar again.\u00a0 So the bargaining should continue for some time.”<\/p>\n

However, the English language newspaper now reports that F1’s floatation plans, and the expiring Singapore race contract, could be entirely unrelated.<\/p>\n

“We are in the process of negotiating a possible renewal of the (race) agreement and the outcome will be announced once discussions are complete,” said a spokesman for race promoter Singapore GP.<\/p>\n

Second minister for trade and industry S Iswaran insisted that the mooted floatation will not influence the outcome of the race contract negotiations.<\/p>\n

And the Singapore tourism board’s Aw Kah Peng added: “You’ve got to see whether the deal is right in every way.<\/p>\n

“We’re hoping everybody sees value in it and we get a so-called good deal for Singapore, in terms of whether all the numbers can work out and everybody takes home something — a kind of a win-win proposition.”<\/p>\n

\u00a9 RIF | GMM<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The fact F1 has chosen the Singapore exchange for the sport’s high profile floatation does not mean the city-state’s popular floodlit street race is guaranteed. The night event’s existing five year contract runs out this year, although a two-year notice clause in the deal means Singapore should stay on the calendar at least until 2014. …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0},"categories":[3],"tags":[59,5262,5340,2130],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts\/15922"}],"collection":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/comments?post=15922"}],"version-history":[{"count":1,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts\/15922\/revisions"}],"predecessor-version":[{"id":15923,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts\/15922\/revisions\/15923"}],"wp:attachment":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/media?parent=15922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/categories?post=15922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/tags?post=15922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}