SINGAPORE, Jan 28 — Singapore has renewed its contract to host the Formula One Singapore Grand Prix for seven more years, from 2022 to 2028, the Singapore Tourism Board (STB) and race organisers Singapore GP said in a joint statement yesterday (January 27).
This is the fourth contract renewal for Singapore. The last four-year contract signed in 2017 expired last year.
The duration of the latest contract is the longest so far, with previous deals ranging between four and five years.
“This will give Singapore a longer runway to capture pent-up demand as international travel recovers. It also allows STB, Singapore GP and industry partners to develop new experiences to meet the evolving interests of locals and visitors,” the statement said.
Transport Minister S. Iswaran said that the decision to host Formula One for another seven years came after thoroughly evaluating the long-term benefits that such an extension could bring to Singapore.
“The renewal will help sustain Singapore’s reputation as a global city with a vibrant lifestyle, attracting international visitors as travel rebounds, and generating business revenue and jobs for Singaporeans.
“We will ensure that this year’s and future races, as large-scale international sporting events, are Covid-safe, informed by the prevailing pandemic situation and public health assessment,” he added.
In their press release, STB and Singapore GP said that in the lead-up to the race this year, all parties will work closely together with relevant government agencies and industry stakeholders to refine and implement appropriate protocols to prioritise the health and safety of all participants, staff members, fans and the community.
Starting this year, STB and Singapore GP will also work together to reduce the carbon footprint of the Singapore race and foster the transition to more sustainable business models, they said.
Initiatives will include switching to renewable energy sources, increasing recycling efforts and switching to sustainable materials.
Formula One is also exploring maximising logistics and travel efficiency through “process and volume optimisation” and by using the least carbon-intensive transport available, they added in their statement.
In response to TODAY's queries on whether it will extend its title sponsorship of the event, Singapore Airlines said: “We are unable to comment on any confidential discussions that we may or may not be having.”
The national carrier has sponsored the event since 2014.
Last year, Iswaran told the media that talks were ongoing with Formula One management and race organisers Singapore GP to renew the contract.
He said then that events such as Formula One “generate significant economic benefits and global branding value” for the country.
Singapore was the first host to hold the race at night and has been hosting it yearly since 2008, usually in September. The last two races in 2020 and 2021 were cancelled due to the Covid-19 outbreak.
TODAY has sent queries to STB, asking about the expected turnout for this year's race and whether the economic terms of the contract takes into account border closures and escalation of the Covid-19 situation.
TODAY has also asked about the safety protocols for the race, including whether all Formula One drivers and crew members are required to be vaccinated to take part in the Singapore Grand Prix.
Last week, organisers of the Australian Formula One Grand Prix declared that all Formula One drivers and crew are required to be vaccinated to be involved in the race this April.
Stefano Domenicali, chief executive officer of Formula One, had confirmed earlier this month that the FIA World Motor Sport Council, which oversees international motor sport, has made Covid-19 vaccinations mandatory for all personnel this year.
Formula One medical car driver Alan van der Merwe missed several races last year due to his unvaccinated status. ― TODAY