Malaysia has already indicated that they will discontinue hosting Formula One races after the 2018 season due to declining revenues with Singapore indicating that, they too, will follow suit.
Formula One chief crusty barnacle Bernie Ecclestone has indicated in a recent interview with a German motoring publication that Singapore was not going to extend its race contract when it expires next year due to that familiar refrain – declining revenues. Ecclestone, of course, took the news well, as well as he typically handles adversity.
“Look at what we have done for Singapore. Yes, the Grand Prix has cost Singapore a lot of money, but we’ve also given them a lot of money, said Ecclestone. “Singapore was suddenly more than just an airport to fly to or from somewhere. Now they believe they have reached their goal and they do not want a grand prix any more.”
The Malaysia race is all but a done deal and the numbers look ominous for the Singapore race, which costs $105 million to host every year – 60% of which is funded by the government – and the race has only been around for eight years.
Ecclestone, when faced with the prospect of losing both races, then backtracked on his remarks.
“My words were taken in a funny way. What I said was simple – no decision has been taken yet. Negotiations are ongoing and will be sorted out shortly… before the end of the year, I’m sure. We want to extend long-term,” he said. “We’ll see what happens.”
Crowds for the Singapore race have declined to a paltry 73,000 spectators for each day for this year’s race – down from 87,000 in 2015.