This is how much the F1 extension will cost for the next 5 years

Expenses will be around a whopping $150m.

According to OCBC, the F1 extension for the next 5 years will cost about $150m, with the government co-funding 60% of the amount, with reference to Minister Iswaran's statement.

It was previously reported that Singapore GP Pte Ltd has exercised its option to extend the city’s contract to host a round of the FIA Formula 1™ World Championship for a further five-year period until 2017. 

According to a release, since the inaugural FORMULA 1 SINGTEL SINGAPORE GRAND PRIX in 2008, over 200,000 spectators have flocked to the spectacular Marina Bay Street Circuit each year to watch the world’s finest drivers in action.

The television audience for Singapore’s round of the World Championship in that four-year period has averaged almost 100 million.

On the ticketing front, all 84,317 tickets to the 2012 FORMULA 1 SINGTEL SINGAPORE GRAND PRIX is now sold out.

Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.


The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.


So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.