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By Julian Lim - March 14, 2007
AsiaOne
The opening race of the Formula One 2007-2008 season in Melbourne this Sunday could come with an announcement that a tentative deal has been reached to bring the world's premiere motor racing tour to Singapore.
F1's top man, Bernie Ecclestone, who stopped over in Singapore on Monday evening, en route to Melbourne, met hotel and property magnate, Ong Beng Seng, who looks set to be the front runner to bring F1 racing to Singapore. Mr Ong's associates have reportedly also flown to Melbourne to work out details of the deal.
The other contender, SUTL Group's Mr Arthur Tay, appears to have fallen behind, despite suggestions that both Mr Ong and Mr Tay had considered a joint proposal at one point. Mr Tay is the man behind the multi-million dollar One Degree 15 Marina on Sentosa Cove.
Even though Mr Ong is involved in the F1 bid in his personal capacity, shares for his listed Hotel Properties Ltd (HPL) Group posted a $0.32 gain to close at $4.52.
According a Business Times report today, one of the clinching factors lies in whether the Singapore government is willing to provide the necessary assurance Mr Ecclestone is seeking.
This, despite Minister of State for Trade & Industry, S. Iswaran's stating the government was "serious" about the idea of hosting an F1 race in Singapore .
The assurance Mr Ecclestone is seeking won't come cheap though.
The Business Times reported that Formula One Management (FOM) wants to be paid the sanction fees for the rights to stage the F1 races here for seven years, and this could amount to a staggering US$250 million.
In addition, the sheer magnitude of logistics needed could push the cost for each race to the range of US$75 million.
In the same BT report, it was mentioned in Parliament that the government would be willing to provide financial support for the staging of an F1 event here and would help provide half the required funding, which is good news for all motorsports enthusiasts here.
So, will we see Fernando Alonso running out in front in his new McLaren Mercedes-Benz, or will Ferrari return with a vengeance, even without the talismanic Michael Schumacher? All will be revealed on Sunday.
AsiaOne
The opening race of the Formula One 2007-2008 season in Melbourne this Sunday could come with an announcement that a tentative deal has been reached to bring the world's premiere motor racing tour to Singapore.
F1's top man, Bernie Ecclestone, who stopped over in Singapore on Monday evening, en route to Melbourne, met hotel and property magnate, Ong Beng Seng, who looks set to be the front runner to bring F1 racing to Singapore. Mr Ong's associates have reportedly also flown to Melbourne to work out details of the deal.
The other contender, SUTL Group's Mr Arthur Tay, appears to have fallen behind, despite suggestions that both Mr Ong and Mr Tay had considered a joint proposal at one point. Mr Tay is the man behind the multi-million dollar One Degree 15 Marina on Sentosa Cove.
Even though Mr Ong is involved in the F1 bid in his personal capacity, shares for his listed Hotel Properties Ltd (HPL) Group posted a $0.32 gain to close at $4.52.
According a Business Times report today, one of the clinching factors lies in whether the Singapore government is willing to provide the necessary assurance Mr Ecclestone is seeking.
This, despite Minister of State for Trade & Industry, S. Iswaran's stating the government was "serious" about the idea of hosting an F1 race in Singapore .
The assurance Mr Ecclestone is seeking won't come cheap though.
The Business Times reported that Formula One Management (FOM) wants to be paid the sanction fees for the rights to stage the F1 races here for seven years, and this could amount to a staggering US$250 million.
In addition, the sheer magnitude of logistics needed could push the cost for each race to the range of US$75 million.
In the same BT report, it was mentioned in Parliament that the government would be willing to provide financial support for the staging of an F1 event here and would help provide half the required funding, which is good news for all motorsports enthusiasts here.
So, will we see Fernando Alonso running out in front in his new McLaren Mercedes-Benz, or will Ferrari return with a vengeance, even without the talismanic Michael Schumacher? All will be revealed on Sunday.
real hard that it'll be YES!
], booked out restaurants etc etc for 3 times over 3 consecutive months. 
[Australian Open...F1...World Swimming Championships]
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