Singapore Grand Prix extended until 2017
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McLaren Mercedes driver Jenson Button of Britain takes off from the pit car during the second practice session of Singapore's Formula One night race on Sept 21, 2012. The Singapore Grand Prix, the only night race on the Formula One calendar, will continue for another five years, until 2017. -- PHOTO: AFP
After months of gridlock, Singapore has finally signed a new Formula One (F1) deal that will give the country more bang for its buck.
The sport's only true night race will carry on until at least 2017 as part of a new five-year contract that was sealed on Saturday.
The fate of the Singapore Grand Prix had been hanging in the balance for nearly a year as the Government and race promoters Singapore GP haggled over the reported $50 million licence fee they pay rights holder Formula One Administration (FOA) each edition.
The contract terms remain confidential. "A gentleman should never speak about money and last night!" declared Mr Bernie Ecclestone, the British billionaire who runs F1.
