Singapore in 2008 F1 starting grid

Singapore will host a Formula One Grand Prix starting in 2008 with the event held at night if all safety concerns are met, a government minister said on Friday.

The successful outcome of lengthy negotiations was announced by Minister of State for Trade and Industry S Iswaran.

Talks between local business tycoon and event backer Ong Beng Seng and F1 franchise holder Bernie Ecclestone have been going on for months, but differences over financial and logistical issues were finally overcome.

"Singapore will host a Grand Prix in 2008," a beaming Iswaran told a news conference. He said the company controlled by Ong secured the rights for five years with the option of renewal for another five.

"It will bring buzz and excitement into the heart of the city," Iswaran added.

"Safety is our prime concern," Iswaran said. The city-state will become the first to hold night races under floodlights only if all concerns are addressed, he said. Several have been raised by F1 drivers.

Otherwise the event will be held on a street circuit during daylight.

Lighting is said to be the main challenge. The FIA - the international motorsports governing body - does not have a lighting standard for F1 because there has never been a night race before.

Ecclestone said including night races in Asia on the F1 schedule would boost television audiences, particularly in Europe.

The government, keen on the event, said it is willing to support the venture "up to a level commensurate with the broader benefits to the economy."

Iswaran said 100,000 spectators are expected to come to Singapore for the race.

An F1 race will bring Singapore a "step closer" to its goal of becoming a vibrant global city," Iswaran said.

The announcement came a day after Ecclestone said that Valencia would be added to the Grand Prix calendar for next year.

The Spanish city is set to host a Grand Prix race next year on a newly-constructed harbour-side street circuit, making it the second Grand Prix in Spain during the season.

A seven-year contract has been signed.

The agreement is only valid though if, as expected, the ruling conservative local government is re-elected later this year.

Malaysia, which also hosts an F1 race, recently announced that it had won an extension to keep hosting the race until 2015.

Source : www.bangkokpost.com