Singapore & Spa Secure F1 Future
New contracts for the Belgian and Singapore Grand Prix have been agreed by organisers to continue to host Formula One at the venues, according to media reports.
Singapore officials have agreed a five-year extension, whilst the Belgian Grand Prix has been reportedly secured for a further three years – according to the Minister of economy for Wallonia, the region in which the Spa-Francorchamps circuit is located, Jean-Claude Marcout.
Marcout said: ‘What I wanted to do was reduce the size of the expenditure in the budget of the Walloon region and when comparing what was taken in the previous contract and the new, I would say it is mission accomplished.’
Belgium had been expected to cut costs by entering into a race share with a French Grand Prix at Paul Ricard, but that plan appears to have fallen away as the new French government considers its long-term investment strategy in sport.
