Singapore Extends F1 Grand Prix Deal to 2028

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(28 Jan 2022)
 
Singapore will proceed to host the Components 1 Singapore Grand
Prix as a part of the FIA Components One World Championship for
one other seven years, from 2022 to 2028.

That is the fourth contract renewal for Singapore,
and the seven-year extension is the longest for the race to this point.

The Singapore evening
race has been staged 12 occasions since its debut in 2008, with about
268,000 spectators attending when it was final held in 2019,
the second highest attendance for the race.

Since its debut, the race
has generated greater than S$1.5 billion in incremental tourism
receipts and attracted greater than 550,000 worldwide
guests.

Aerial view of the final flip of Singapore F1 GP. Image: Calvin Chan / Singapore GP Pte Ltd

Mr Ong Beng Seng of Singapore
GP, mentioned, “We’re very happy that the evening race will
proceed for seven extra years. After greater than a decade of
celebrating this spectacular occasion on the racing calendar, we
are trying ahead to constructing on its success and dealing
with Components 1 in addition to its companions to take the evening race to
larger heights. We’re delighted that this marquee occasion will
reveal how Singapore is open for enterprise. We glance
ahead to welcoming each native and abroad followers and guests to the Marina Bay Avenue Circuit as soon as once more.”

90% of the
race organisation is sub-contracted yearly to Singapore-based corporations, offering employment alternatives and enabling
companies to reap financial advantages and constructed capabilities,
whereas gaining publicity and new enterprise alternatives.

Yearly, some 30,000 workers, contractors and stakeholders are
accredited to work on the Marina Bay Avenue Circuit, with
coaching offered to college students for operational roles inside the
occasion grounds, hospitality personnel, in addition to volunteer
race marshals.

Beginning this yr, Singapore GP (SGP) and the
Singapore Tourism Board (STB) will work collectively to scale back the carbon footprint of the
Singapore race and foster the transition to extra sustainable
enterprise fashions. Initiatives embrace switching to renewable
vitality sources, growing recycling efforts and switching to
sustainable supplies.

Components 1 can be exploring maximising
logistics and journey effectivity by course of and quantity
optimisation and through the use of the least carbon intensive transport accessible.

A full sustainability audit can be undertaken,
which is able to information the event of different inexperienced initiatives that
can be applied for the  remainder of the brand new time period.

Mr Stefano
Domenicali, President and CEO, Components 1, mentioned, “I’m delighted
that Components 1 will proceed to race in Singapore for an additional
seven years. The Marina Bay Avenue Circuit hosted the primary
evening race in F1 historical past in 2008, and Singapore has continued
to thrill followers, groups, and drivers ever since. Singapore holds a
particular place on the F1 calendar, and this extension is a component
of our long-term dedication to proceed to develop the game in
Asia. The plans which are in place to scale back the carbon footprint
of the occasion are spectacular and align with our plans to be Web
Zero Carbon as a sport by 2030 and I stay up for
persevering with our profitable relationship with Singapore GP and
the Singapore Tourism Board as Components 1 returns to this
unimaginable metropolis.”


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