10/02/2024
NEWS STORY
The Singapore government is to review its contract with F1 following the arrest of former transport minister S. Iswaran.
Iswaran resigned last month having been charged with 27 offences following a high level probe into graft in the city-state.
He has pleaded not guilty to the charges which, among other things, allege that he accepted tickets from hotel tycoon Ong Beng Seng, the driving force behind bringing the Grand Prix to Singapore, for various high-profile sporting events and shows.
"There is nothing to suggest, as of now, that either the F1 contracts or other contracts were structured to the disadvantage of the government," said the Minister-in-charge of Trade Relations, Grace Fu, though she admitted that the Singapore Tourism Board has been instructed to audit the 2022 event.
Having signed the original contract with Ong in 2007 to stage the iconic night race, the contract was renewed in 2012, 2017 and 2022, with the current agreement set to end in 2028.
"Whilst we will review any government contracts to safeguard Singapore's interest, we remain committed to the F1 Singapore Grand Prix," said Fu. "Preparations for the 2024 race have started."