More vroom for the Singapore buzz
Sources say bidders such as Tabcorp are including F1 motor racing
in resort plans
By ALEXANDRA HO
(SINGAPORE) Australian gaming company Tabcorp could help bring the
king of motor racing events here - Formula One.
Sources have told BT the idea is part of Tabcorp's Request for
Concepts submission for an integrated resort (IR). It has put in
proposals for both the Sentosa and Marina Bayfront sites.
Just last week, Minister Mentor Lee Kuan Yew publicly expressed his
regret that he did not allow F1 racing here - along with the chance
to attract the accompanying glamour, excitement and money.
The buzz has been building lately that the Singapore Tourism Board
(STB) is keen to persuade F1 to make Singapore a leg of its
tour.
The amount of money needed to bring the race here is high - but the
two IRs could help tip the balance in Singapore's favour.
Contacted yesterday, a Tabcorp spokesman said the company doesn't
comment on rumours or speculation.
But other sources said Tabcorp isn't the only gaming company with
the F1 idea. Other IR bidders seriously considered putting the F1
race on the table as part of their concepts. And BT understands
that some have thought of staging the F1 race on Sentosa.
In an email reply to The New Paper, STB had said it 'has been
actively looking at the development of a motorsports event in
Singapore . . . that would be consistent with our profile as an
exciting destination'.
STB is said to be more interested in a street circuit, where the
Schumachers, Alonsos and Trullis could race through the civic
district.
Millions of television viewers worldwide would see the drivers zoom
past City Hall and Parliament House, with Singapore's skyline
providing a dramatic backdrop.
Bringing F1 races would not be cheap. Sources say it could cost
$200 million to set up a dedicated circuit. And even for a street
circuit, the bill could run to $40-50 million, including direct and
indirect costs such as closing businesses along the track, setting
up barriers, security, and putting in pit stops for race tyre
changes and petrol top-ups.
STB is reportedly willing to help with the funding - up to 30 per
cent. The rest would come from sponsors and partners.
If F1 were to come here, it wouldn't happen overnight. Although STB
is believed to be in early talks with different players, the
timeline to bring the race would likely be about four years, BT
understands.
STB was not available for comment late last night.
Some have raised doubts on whether Singapore can snare an F1 race;
they say there are enough Asian legs in the tour. Even F1 supremo
Bernie Ecclestone has reportedly said he does not think it is
possible because Singapore is too near Malaysia's Sepang F1
circuit. Mr Ecclestone had not replied to email enquiries from BT
late last night.
But some have pointed out that the European legs of the F1 race are
held in close proximity to one another - in France, Spain, Italy,
San Marino, the UK, Belgium and Germany, all of which are
relatively close geographically. In fact, the European legs take up
more than half - or 10 - of the season's 19 races.
Observers have told BT the Singapore government probably has more
political will now than ever to make F1 racing here a reality. They
point to MM Lee's comments last week as proof. 'I learnt a lesson
and I'm telling my younger chaps - 'look, pay attention to all
this. This is what will make Singapore buzz,' ' he said.
