300kmh on S'pore roads?
By Ian De Cotta, TODAY | Posted: 12 January 2007 1001 hrs
Singapore's race against time to host a Formula 1 Grand Prix is
nearing the chequered flag.
TODAY has learnt that F1 supremo Bernie Ecclestone has been in
talks with at least two Singaporean groups to stage a race here as
early as next year. It is understood that negotiations will have to
be concluded soon to make the tight deadline.
A front-running group in the talks is led by a prominent yet
reclusive local business czar, one of Singapore's richest men. He
got in touch with Mr Ecclestone last year and told him that he was
willing to back the venture.
The cost of hosting this world-class event is thought to be in the
range of US$35 million ($54 million). The returns are many times
higher. When Bahrain hosted the race in 2005, it not only attracted
tourists by the thousands but also netted up to US$100 million from
hotel receipts, recreational spending and contracts for local
players. Tourism receipts is also a key Singapore
consideration.
As negotiations here revved up, Mr Hermann Tilke, the world
renowned German architect responsible for designing the Formula 1
circuits in Sepang, Manama, Istanbul and Shanghai, was commissioned
to design a street circuit which would see F1 cars racing in
downtown Singapore at speeds of up to 300km an hour.
Mr Tilke visited the country last year and his track design has
since been approved, in principle. A Formula 1 race on a street
circuit in Singapore would inevitably draw comparisons with the
legendary Monte Carlo track in Monaco arguably the most glamorous
of the F1 race destinations.
Many race observers say that Singapore's wide roads are ideal for a
street circuit. It would also avoid the building of a huge stadium
track that would be a white elephant the rest of the year.
But just before Formula 1 could sign on the dotted line, a new
player entered the fray.
None of the groups involved are keen to talk at this critical stage
of the negotiations.
Speaking from his London office, Mr Ecclestone, 76, would only say:
"Yes, we have been talking to various parties about a race in
Singapore, but as it is, nothing has been firmed up yet.
"When we have something, you will definitely know about it."
When contacted, both the Ministry of Trade and Industry and the
Singapore Tourism Board declined comment. But one source, who is in
the loop, told TODAY: "For the sake of transparency, perhaps the
second party that has just come in should be given a chance to
prove what it is capable of doing.
"But everyone who knows Formula 1 knows that Bernie (Ecclestone)
does not give an inch away. He'll only work with those he is
comfortable with."
The source said that talks between Formula 1 and the first group,
led by the business czar's group, were at an advanced stage when
the new party came into the picture.
"We were very close, 99 per cent there with Ecclestone," said the
source. "We can't afford to miss the boat again because Singapore
may not be given another chance to host Formula 1."
Singapore was offered a Formula 1 race in 1991 but turned it down,
in part due to site concerns.
More recently, the drive for Singapore to host one leg of the F1
races, has been gathering momentum since March last year, when Mr
Ecclestone revealed exclusively to this newspaper that he was open
to the idea of letting Singapore host the event.
If the race does come to Singapore, the region will play host to
two F1 circuits for at least the next few years. Sepang's deal with
F1 is until 2010. Observers say that the races in Singapore and
Sepang could bookend the Formula 1 season.
Formula 1 is not the only proposal that Singapore is considering.
Top officials of the A1 Grand Prix series have also approached the
Government about the possibility of hosting a race here and have
already sent their track designers here. - TODAY/st
http://www.channelnewsasia.com/stories/singaporelocalnews/view/252081/1/.html
