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Singapore will host Formula One races until 2021

Singapore will host Formula One races until 2021

In 2015, the average was 87,000 and the highest was 100,000 in 2008 when the first Singapore Grand Prix was hosted.

Speaking on the sidelines of the Singapore Summit on Saturday, Rhodes explained how his company provides the electronics backbone for the entire race series. The Singapore Formula One Grand Prix which will be held on Sunday, Sept. 17, 2017.

THE Singapore Grand Prix is now a regular fixture on the Formula One calendar.

Essential to building the world's fastest vehicles, Formula One technology has been sought-after by various global industries and is closely monitored by racing fans who attend the annual Singapore event, which was Asia's first-ever street circuit.

"We are pleased that the teams and constructors involved in these intensive and complex discussions have reached an agreement satisfactory to all concerned", commented Chase Carey, Chairman and CEO, Formula 1.

The Singapore GP has generated 1.4 billion in Singapore dollars (about $1 billion or 870 million euros) over the past decade.

And ahead of the race this weekend, the Marina Bay street circuit has extended its contract to 2021. During Ecclestone's tenure, contract negotiations were often hard for track owners struggling with rising costs and dwindling gates.

"The Singapore Grand Prix, the Singapore Tourism Board and the Singapore Government have all done an excellent job of making this an event that involves the whole city".

There are no immediate plans to change or modify the five-kilometer (three-mile) track.

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