Covid19 puts the brakes on this year's SingaporeGP F1NightRace
With some other venues having had their franchise fees waived after they cancelled their races, this suggests that a fee would not necessarily be payable.
Deloitte's sports business group leader, James Walton, pointed out that Formula 1 is already going through a challenging period as it strives to renew its fan base and deals with blowback from some countries due to the expense of hosting races. He said:"In the interest of maintaining fan base, maintaining good relations with governments and not seen as pressuring at this point in time, I'm sure a compromise was reached.
In response to a query on whether the contract will be extended by a year, Singapore Tourism Board director of sports, Ong Ling Lee, said:"We are open to exploring different options, and will continue to work closely with Singapore GP and various government agencies to prepare for different eventualities."
Singapore is not the only venue to pull the plug on hosting the race this year after the pandemic forced countries to go into lockdown and brought travel to a screeching halt. In a separate release, Formula 1 said that Japan and Azerbaijan would also cancel their races, following the footsteps of other venues such as Australia and Monaco.
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