Sep.22 (GMM) Singapore has inked a new contract to remain on the formula one calendar.
There had been some doubt the race organisers would agree Bernie Ecclestone’s sanctioning fee demands for a new deal beyond this weekend’s highly popular night race.
But the F1 chief executive said at the official announcement on Saturday: “We are here for another five years”.
Ecclestone admitted the negotiations had been “difficult”, because everyone in the entire sport “without exception likes being here”.
Tourism minister S Iswaran said Singapore has indeed managed to reduce the financial impact of the event by agreeing a “revised” fee.
“We eventually got there,” agreed Ecclestone.
