Singapore Grand Prix: Circuit to host race until at least 2021

Singapore Grand Prix: Circuit to host race until at least 2021

This however, is no longer case, as the country has chose to renew its contract with Formula 1 until 2021.

The Singapore Grand Prix, which celebrates its 10th edition this weekend, will continue to feature in the Formula One World Championship for four more seasons, until 2021, the F1 organisers announced on Friday.

The first track to ever stage a night race in the sport has just extended its contract until 2021 and all involved will be hoping it gives the fans some excitement a decade after it held its inaugural race. This recent announcement comes after the year-on-year 19-percent growth in ticket sales.

Carey called the race "most thrilling" as debuted in 2008, Singapore GP is the first ever night Grand Prix and one of the most attractive races. "It has also created good opportunities for Singaporeans and the local business community", Iswaran said. This event has also showcased Singapore as a lovely, vibrant and attractive destination to over 780 million global broadcast viewers.

With this year being the tenth straight F1 Night Race in Singapore, it has been a landmark event in the country every year - with its races, parties and grand music performances. That said, considering the financial problems faced in the past with the Jaypee Group that owns the Buddh International Circuit and the red tape that surrounded the event with regards to high taxation, it will be an uphill battle for the Grand Prix to make a successful return.

Meanwhile, Lionel Yeo, Chief Executive of the Singapore Tourism Board, stated that the race has provided an excellent platform for businesses to test bed new lifestyle initiatives and products.

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