A Formula 1 race is expected to be staged in Bangkok, Thailand from the 2015 season onwards. The event, set to follow in the footsteps of Singapore and be held at night, will be supported by the government and local companies.
Kanokphand Chulakasem, Governor of the Sports Authority of Thailand, explained in October that he had been ‘working closely’ with leading Formula 1 figures to select a location for the race. According to the Wall Street Journal, F1 supremo Bernie Ecclestone has now pinpointed a site, stating: “They say (it will be held in) 2014 and I say 2015. It is serious and it is good.”
It has been estimated that 60 percent of the annual fee will be covered by the government of Thailand when the race joins the calendar, while beer company Singha and energy drinks giants Red Bull are expected to share most of the remaining costs.
Under the Concorde Agreement, which binds teams to the sport, the cap on the number of races during a season is 20. With two more events (New Jersey and Russia) joining in the next three years, current circuits could face being dropped.