Should Singapore renew the F1 contract?
- Thread starter DriveAllDay
- Start date
andy_sg
Well-Known Member
Re: Should Singapore renew the F1 contract?
90 millions per year and we have hosted F1 for 3 years.. so that sums up to 270 millions at the minimum..
With this kinda money, we can construct a world-class stadium with 50K capacity and invite european heavyweights like manchester united, real madrid to come and play in Singapore!
90 millions per year and we have hosted F1 for 3 years.. so that sums up to 270 millions at the minimum..
With this kinda money, we can construct a world-class stadium with 50K capacity and invite european heavyweights like manchester united, real madrid to come and play in Singapore!
wt_know
Well-Known Member
Re: Should Singapore renew the F1 contract?
i assume $90M is paid by SGP. perhaps with some funding from STB as part of tourism
box office + sponsorship + expensive corporate hosting + etc > $90M = handsome profit
yes, build a world class stadium or track is good. but, the maintenance fees also very jialat. look at beijing world class olympic stadium ... look at msia sepang track. unless there is a lot of activities for the whole year calendar to utilise the facility and generate revenues
i support the idea of not having a "permanent" track as a white elephant that is used once a year and the facility rundown very fast
i assume $90M is paid by SGP. perhaps with some funding from STB as part of tourism
box office + sponsorship + expensive corporate hosting + etc > $90M = handsome profit
yes, build a world class stadium or track is good. but, the maintenance fees also very jialat. look at beijing world class olympic stadium ... look at msia sepang track. unless there is a lot of activities for the whole year calendar to utilise the facility and generate revenues
i support the idea of not having a "permanent" track as a white elephant that is used once a year and the facility rundown very fast
andy_sg;686680 said:
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Re: Should Singapore renew the F1 contract?
I think the answer depends on which hat you are wearing:
~ petrolheads - yes, since it is F1 at our doorsteps
~ politicians - yes, as long as I can hit my KPI
~ businessmen in that area - yes, for occupancy hike and no, for loss of traffic
~ normal citizens - what's in for me? GDP attrition? Show the numbers. Or more like wealth generation for the stakeholders but minimal gains for the rest?
I think the answer depends on which hat you are wearing:
~ petrolheads - yes, since it is F1 at our doorsteps
~ politicians - yes, as long as I can hit my KPI
~ businessmen in that area - yes, for occupancy hike and no, for loss of traffic
~ normal citizens - what's in for me? GDP attrition? Show the numbers. Or more like wealth generation for the stakeholders but minimal gains for the rest?
DriveAllDay
Well-Known Member
Re: Should Singapore renew the F1 contract?
+1
On impact for businessmen:
Heard STB actually charges additional 30% taxes on retailers around Marina Square for the supposedly increased traffic. Where in fact quite a few merchants actually closed shops during the F1 period since business would drop 70-80%.
kenntona;686801 said:
+1
On impact for businessmen:
Heard STB actually charges additional 30% taxes on retailers around Marina Square for the supposedly increased traffic. Where in fact quite a few merchants actually closed shops during the F1 period since business would drop 70-80%.
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Re: Should Singapore renew the F1 contract?
Once a year event for 1 week of traffic inconvenience is nothing.
Those NDP rehearsals n parades, Ching Gay parade, frequent IT shows all cause traffic jams anyway.
F1 here has been quite successful and puts us in international calender of the most glamorous Motorsport Racing.
We should be proud of that.
And yes Toto, it is cheap!!!!
Once a year event for 1 week of traffic inconvenience is nothing.
Those NDP rehearsals n parades, Ching Gay parade, frequent IT shows all cause traffic jams anyway.
F1 here has been quite successful and puts us in international calender of the most glamorous Motorsport Racing.
We should be proud of that.
And yes Toto, it is cheap!!!!
BlueSwift
Well-Known Member
Re: Should Singapore renew the F1 contract?
1. Because I am an F1 fan since 1997 (the year when the first and only driver had been Disqualified in the Drivers Championship... ahem!).
2. The only night race.
3. Currently one of the 2 street circuits in a city (other is Monaco) in the racing calender.
4. Fireworks at the end makes it even better. (think the only race too, not sure bout Abu Dhabi).
5. Every year in Singapore is exciting. (safety car, crashes).
6. It's demanding and challenging for every driver.
7. Even Bernie said that Singapore GP is the crown jewel of Formula 1 in Asia, more than Abu Dhabi.
8. Makes me proud to be a Singaporean to have such glamor.
P.S. The V8 engines are not as nice as the V10s in the past....
And they restricted the horsepower of the V6 Turbos in 2013, considering the Mclaren MP4/4 had 1200hp in a 1.6l V6 turbo in 1988.
1. Because I am an F1 fan since 1997 (the year when the first and only driver had been Disqualified in the Drivers Championship... ahem!).
2. The only night race.
3. Currently one of the 2 street circuits in a city (other is Monaco) in the racing calender.
4. Fireworks at the end makes it even better. (think the only race too, not sure bout Abu Dhabi).
5. Every year in Singapore is exciting. (safety car, crashes).
6. It's demanding and challenging for every driver.
7. Even Bernie said that Singapore GP is the crown jewel of Formula 1 in Asia, more than Abu Dhabi.
8. Makes me proud to be a Singaporean to have such glamor.
P.S. The V8 engines are not as nice as the V10s in the past....
And they restricted the horsepower of the V6 Turbos in 2013, considering the Mclaren MP4/4 had 1200hp in a 1.6l V6 turbo in 1988.
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Re: Should Singapore renew the F1 contract?
Yes.
1. Because many more Europeans now know that Singapore is a stand-alone country and not somewhere in Malaysia, China or Indonesia.
2. It helps when you want to attract investments and business in Singapore, as we are without a drop of natural resource and hence we would require FDI to continue coming into Singapore. If we can allow casinos to operate freely on Singapore shores now, which is 365 days, 7 days a week, 24 hours a day for people to lose their fortunes, what is the mere cost of inconvenience for a week + putting Singapore reportedly on international news once a year.
Yes!
Yes.
1. Because many more Europeans now know that Singapore is a stand-alone country and not somewhere in Malaysia, China or Indonesia.
2. It helps when you want to attract investments and business in Singapore, as we are without a drop of natural resource and hence we would require FDI to continue coming into Singapore. If we can allow casinos to operate freely on Singapore shores now, which is 365 days, 7 days a week, 24 hours a day for people to lose their fortunes, what is the mere cost of inconvenience for a week + putting Singapore reportedly on international news once a year.
Yes!
