SINGAPORE BIDS FOR F1 STREET RACE

raceguysg SG

YES!!!!!! SCRAP COE!!!!!! btw, if we build street circuit, where to put the pits??? In front of raffles hotel??? drivers can get singapore sling while changing tryes Very Happy

Kr0n SG

I think in the end it all still boils down to the dough. How much Singapore is willing to spend as well as how stuffed Bernie would like his pocket to be. Apparently Sepang's contract ends in 2006? I think we stand a pretty good chance. If they really want it badly, we could even see a track in 2006 ready for use. A businessman in Dubai started his own racing league, and got his track ready in about 90 days if I remember correctly. That's 3 months! I believe we will get both tracks, the one in Tuas and another in Marina. Only a matter of time guys, time to save up for that race machine! Very Happy

Cheers

tailslide SG

yes, it would turn into a white elephant but that depends on a number of "if"s.

1) if it doesn't generate more revenue for investors to consider upkeeping it for future races.
2) if F1 is the only race series we target. remember, there's still others like the JGTC, moto GP etc that can woo more tourist bucks for sg.
3) if the local motorsports community itself doesn't even support a dedicated track for their private track events.

i think eventually, it has gotta be the ethos of the local as well as global motorsports community to support a dedicated track in tropical sg as well as the political will of our gov to take the lead to ensure an investment like this doesn't go to waste. we'd make more progress studying the feasibility of it than to put ourselves down before any plans have materialized.

dun be silly. F1 cars doing U turns? and on top of that, risk clipping a kerb along the way? i dun think so lor Rolling Eyes

Kr0n SG

Also if they’re going to charge rates for track usage so high that you could go on it only if you drive a Ferrari.

Gazelle SG

If you want to build something like sepang circuit, you will need 900,000 sqm of land or equivalent to 120 football field.

Can you tell me how much it will cost you to occupy such a big piece of land in Singapore. How much do you think it will cost you per month to maintain and lease it? On top of your land lease you still have to finance the $200m construction cost.

Furthermore, why do we need another modern F1 race circuit when MY already have Sepang.

Personally I still think that having a street circuit is our only feasible option and it compliment the IR, just like Melbourne, Monaco, Macau etc.

Btw, what make you think that F1 car cant make a U-turn? it is a matter of which road or highway we are talking about.

ewoodrovers SG

We can always use the road safety park!! Mr. Green or the integrated casino resort with the track circling it to prevent people from getting in Twisted Evil

tailslide SG

how many golf courses are we already having in singapore and how many football fields are they taking up? wats the harm of one dedicated circuit that is of F1 standards when theres so many non dedicated facilities thats taking up land? land is a commodity that is only justified by its topographical designation. y do u think they proposed to build a track in tuas and not in shenton way? emplacing one on lands like this would increasingly marginalize the cost of running it when against revenue that can be reaped through various races it can support as a result.

Sepang is great as a circuit i'd agree. but wat harm is it if singapore takes a share of the pie by building one that can hold its weight against sepang? malaysia has quite a few tracks other than SIC already and sg has none. do u think bernie would have toyed with the idea of holding an F1 race in malaysia if it were to be held on the streets of KL? why does SIC thrive even after half a decade? surely what MM Lee has mentioned would have made us realize what we have been missing when we consider these.

btw, i never said F1 cars can't do U turns. read again. U turns here in sg do not have a wide radius to begin with. unless u expect to see history's first track which requires an F1 driver to execute a handbrake u turn. the design of our roads are distinctively different from the layout of the road circuits u have mentioned.

Gazelle SG

People are willing to pay $100K for a membership in the country club. Are you willing to pay the same amount just to be a member of a race track? How much do you think it will cost you to use track for one day?

Kids play goft, women play golf, your grand parents probably play golf too. Does it ring a bell to you why there are so many golf courses in singapore?

I am sure we have enough land to provide for a 6KM race circuit, but my question is,

a) Do you expect the goverment to fund this project, and offer you the land for free? If so, why?

b) Beside F1 that happen only once a year, what other source of revenue do you have? (Projected revenue and source of income??)

c) Assuming that your land lease for the track is 20 years, what happen if FIA decided to switch back to Sepang after 5 years. What are you going to do with this circuit? (Have Pasar Malam on track on Sat night?)

tailslide SG

the 100k membership allows ur wife, ur kids and ur grandparents to play golf at that country club. besides that, they get to use the club's gym, restaurant, sauna......... point is, they won't be paying 100k just to use the golf course. u cannot equate a the cost of such membership to mean the cost of owning/running the land area.

a) the government can support a project like this not just in terms of funding. by offering rebates in terms of various taxes, it can also result in a win-win situation for them when foreign investors capitalize on this opportunity to pitch in.

b) u have think out of the box. F1 is not the only race series capable of drawing big crowds. weekly open track days are also possible and would be a welcome option for ppl like me who have to drive 300 kms to SIC in order to have a decent track session. i m certain neither one of us would have the number crunching competency to churn out a projected revenue in this case, else we wouldn't be discussing this on an open forum.

c) this is a scenario is as likely to happen as it is not to. did the builders of SIC, bahrain, spain... circuits ever think of this possible eventuality before they decided to build their tracks? land constraints aside, but why did they go ahead and dump millions into building the tracks anyway? IMO, it takes calculated risks to make reasonable gains. if we are always behaving and thinking like scared chicken sh!ts, we'll never take that first step to achieving anything.

LazerLordz SG

When there isnt any F1 racing, we can always host GT racing, Drag Racing, Touring Car Championships.

We do not need a dedicated oval F1 track, we need a semi-urban track.Asia does not have this yet, and we can use the streets of Marina South, and if the new Downtown project gets up and running, the future F1 drivers will be racing under the stares of the skyscrapers.

Deportivo SG

singapore can have mickey mouse F1 racing.

iveco SG

Laughing That is the kiddie version.

[email protected] SG

no point discussing so much. We’ll know in a few years time.

Gazelle SG

GT racing, Drag Racing, Touring Car Championships will not be able to generate enough money to justify a 6KM race track here in Singapore. With a street circuit we can host a F1 GP, so why do we need to pump in a few billions to do the same thing?

tailslide SG

then y should others elewhere in the world do the same thing if all these events do not accrue sufficient revenue to justify the construction of such circuits? Rolling Eyes they have streets in their countries too dun they?

Gazelle SG

Originally posted by tailslide:
the 100k membership allows ur wife, ur kids and ur grandparents to play golf at that country club. besides that, they get to use the club's gym, restaurant, sauna......... point is, they won't be paying 100k just to use the golf course. u cannot equate a the cost of such membership to mean the cost of owning/running the land area.

The are willing to pay $100K just to be a member the club, and on top of that they are paying montly maintaince fee and to use the facilities. Are you willing to do the same? If not then you should not ask why there are so many golf courses in Singapore. (btw, those land are not FOC)

a) the government can support a project like this not just in terms of funding. by offering rebates in terms of various taxes, it can also result in a win-win situation for them when foreign investors capitalize on this opportunity to pitch in.

You only enjoy tax rebate if your business make money. I would call it a lose=lose situation here. Why would foreign investor want to invest in a project that doesnt make business sense.

b) u have think out of the box. F1 is not the only race series capable of drawing big crowds. weekly open track days are also possible and would be a welcome option for ppl like me who have to drive 300 kms to SIC in order to have a decent track session. i m certain neither one of us would have the number crunching competency to churn out a projected revenue in this case, else we wouldn't be discussing this on an open forum.

Yeah I know there are other race series, but how big a crowd are you talking about, and how much $ can you draw from these crowd? $500 per ticket to watch?

For a 15 year leasehold recreation land in singapore, it should be at least $200 per sqm and this will cost you $180m for the land and $200m for the contruction. Base on financing cost of 5% per year, your yearly interest payment to the bank will be $19m for a $350m loan. Assuming your contract with FIA is only 6 years, you must be able to recover all the investment within the first 3 years and start to make profit in the last 2 years.

I will leave the rest of the calculation to your own imagination.

c) this is a scenario is as likely to happen as it is not to. did the builders of SIC, bahrain, spain... circuits ever think of this possible eventuality before they decided to build their tracks? land constraints aside, but why did they go ahead and dump millions into building the tracks anyway? IMO, it takes calculated risks to make reasonable gains. if we are always behaving and thinking like scared chicken sh!ts, we'll never take that first step to achieving anything.

Before you take any risk, you must first ask why you want to take such a risk. If I can host a F1 race with just $50m investment on a street circuit, then why do I want to take UNNECESSARY risk to invest in the $380 million project that generate almost the same returns. Calculated risk? I think this is suicider.

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Gazelle SG

Howcome most people in MY live in freehold landed property and singaporean live in 99 years leasehold HDB?

Praetorian111 SG

THe average lifespan of Singaporean is 80 for guy and 85 for woman. 99 years is far from enough. In addition, most will move out of their existing HDB after 40 years. Due to redevelopment projects, so there is no point doing a 999 freehold landed property.
The main reason for the difference will be that malaysia is much bigger than singapore ( in term of land size)

junh SG

hey guys,

street track unlikely lar.. u need a historical place to host a street race..

to get us on the right track, lets remove some golf courses and replace it with a racing facility.

maybe we can modify the go kart track at tamanh jurong!! lol..

~WRX sti~ SG

may i ask.... where u get this info frm???

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