Much excitement in the popular press about the possibility of Thailand having one round of the Formula 1 circus. Thailand is aiming to join the Formula One calendar in 2014, according to Kanokphand Chulakasem, governor of the Sports Authority of Thailand.
Kanokphand met with F1 supremo Bernie Ecclestone during the Singapore Grand Prix weekend where, the Bangkok Post reports, a deal was agreed in principle.
A Bangkok GP?
According to Bernie, “It will be a city race like that in Singapore and Monaco. It will be a night race like the Singapore Grand Prix.”
But don’t get excited yet and look for pre-purchased tickets, Kanokphand added that the two parties had yet to agree upon a fee. And fees to just hold the race are exceptionally high. So high that many countries are talking about not renewing their agreement.
How high? Well, you are looking at $40 million staging costs! Then fees of $60 million and up to $150 million.
However, if that is decided and agreed upon, Tourism and Sports Minister Chumpol Silpa-archa has stated that the Thai government would shoulder 60 percent of the total cost and the rest would be paid by private companies such as Red Bull and Singha.
