Thai cabinet puts in $1.2bn bid to host F1 race in 2028

Bengaluru — Thailand’s cabinet has approved a $1.2bn (R21.39bn) bid to host a Formula One street race in its capital Bangkok in 2028, government officials said on Tuesday.

If successful, the Thai capital would win a contract to host a race each year from 2028 to 2032, government spokesperson Jirayu Houngsub told a news conference.

“In the next two to three years, Thailand will have world-class competition, which we never thought would happen in Thailand,” Jirayu said.

Tourism minister Sorawong Thienthong told reporters the bid is worth about 40bn baht (R21.93bn).

In March, Thai Prime Minister Paetongtarn Shinawatra met F1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a grand prix on a Bangkok street circuit from 2028.

Hosting the race will help promote tourism, a key driver of Thailand’s economy, the government has said.

F1 already has a crowded schedule of 24 races around the world with four in the Asia-Pacific region, including the Singapore Grand Prix in Southeast Asia.

Thailand has an FIA-accredited track in Buriram in the northeast of the country, which hosts a round of the MotoGP motorcycling world championships, but the proposal is for a street race in the kingdom’s capital.

Reuters