Conflicting claims over Singapore

Published on 12/07/2012 02:39

Singapore Grand Prix organisers and Formula 1 supremo Bernie Ecclestone are at loggerheads regarding a new deal for the race. In Singapore media yesterday, Ecclestone claimed another five-year contract – with the current one due to expire after this season’s race in September – had been ironed out.

Ecclestone said: “Everything that was in the way of the Singapore Grand Prix continuing for another five years has been cleared. I’m happy this is out of the way because Singapore has been good to F1 and the night race has also been good for Singapore.”

But a statement from SGP made it clear no new contract had yet been agreed upon, and negotiations were continuing, claiming the terms of the deal were unacceptable. The statement read: “Singapore GP wishes to clarify talks on continuing the Formula One Singapore Grand Prix for a second term are still ongoing. What is presently on offer from Formula 1 Administration is insufficient for us to commit to a full five-year extension.

“SGP has received a formal renewal notice from Formula One Administration to confirm their wish to continue running the night race for a further five years.

“Since then, SGP has been in talks to cement terms that offer commercial viability for the full five years. We remain hopeful at reaching an outcome that is mutually beneficial to all parties.”