Thai Bid to Host F1 Grand Prix in 2028

Cabinet approves $1.58 billion kitty for proposed Bangkok street race till 2032

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BANGKOK - Thailand's Cabinet has approved a 40 billion baht (S$1.58 billion) bid to host a Formula One street race in its capital Bangkok in 2028, government officials said on June 17.

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 actually happen in Thailand," Jirayu said.

"The Cabinet has given the green light for Thailand to submit its proposal to host the Formula One race. A budget of 40 billion baht has been allocated, and a working group will be formed to study the logistics and feasibility."

Tourism Minister Sorawong Thienthong also told reporters the bid is worth about 40 billion baht, in line with what Jirayu said.

In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula One chief executive Stefano Domenicali in Monaco and said that 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.