The Straits Times
www.straitstimes.com
Published on Sep 22, 2012
 

Singapore Grand Prix extended until 2017

 
 

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.