Singapore Airlines Secures Extended Title Sponsorship of the F1 Singapore Grand Prix Through 2028!

SINGAPORE: In a significant move for the world of motorsport, Singapore Airlines (SIA) announced on January 16th that it will continue its title sponsorship of the highly-anticipated Formula 1 Singapore Grand Prix for an additional four years, extending its partnership to the 2028 season.

SIA first became the title sponsor of this prestigious event in 2014 and has renewed its commitment multiple times, including extensions in 2018, 2020, and 2022. Prior to SIA’s involvement, the event had been under the sponsorship of Singtel from its inception in 2008 until 2013.

"The Singapore Grand Prix is not just a race; it's an essential part of our sporting and tourism landscape," said Mr. Lee Lik Hsin, SIA’s chief commercial officer. “It showcases Singapore's stunning skyline and reinforces our status as a prominent global hub. This extension reaffirms Singapore Airlines’ dedication to fostering sports and tourism in our nation.”

Emily Prazer, F1’s chief commercial officer, echoed this sentiment. “Singapore has emerged as one of the most prestigious grands prix on the F1 calendar, thanks to the unwavering support of partners like Singapore Airlines. We eagerly anticipate our ongoing collaboration to enhance this remarkable event in the years to come.”

The forthcoming Singapore Grand Prix is slated for October 3 to 5 this year. Additionally, a contract inked in 2022 ensures that the iconic F1 race will continue to thrill fans in Singapore for another seven years, marking the longest extension since the event's inception.

However, recent controversies have cast a shadow over the event's management. Following the legal troubles of former Transport Minister S Iswaran, who was sentenced to 12 months in prison for corruption-related activities, the government announced a review of the terms surrounding the night race deal in February 2024.

The Singapore Tourism Board (STB) was tasked with auditing the financial intricacies of the 2022 Grand Prix, which revealed that their internal controls remain sound, with no major findings of wrongdoing. Deputy Prime Minister Gan Kim Yong confirmed that the audit reviewed grant disbursements and procurement matters from 2019 to 2022, but the assessment of F1 contracts between the government and Singapore GP is still ongoing.

Adding to the drama, Ong Beng Seng, a prominent Malaysian property mogul credited with bringing Formula 1 to Singapore, faces serious allegations connected to Iswaran's case. With charges of facilitating an all-expenses-paid trip as well as aiding Iswaran amid the investigation, Ong's involvement highlights the complexities entwined with high-profile events like the Grand Prix.

As we gear up for another thrilling season of Formula 1 racing, all eyes will be on Singapore not only for the race's excitement but also for the unfolding legal saga that continues to grip the nation. Will the Grand Prix overcome these challenges and deliver yet another unforgettable spectacle? Stay tuned!