24 Apr '15, 8am

A Singapore-based consortium wants Valencia back on the F1 calendar: #F1

A Singapore-based consortium wants Valencia back on the F1 calendar: #F1

A private Singapore-based consortium is aiming to bring Valencia back to the Formula 1 calendar. The streets of the Spanish port city hosted five grands prix until 2012, but those race organisers subsequently faced accusations of corruption. A Singapore multinational called ARC Resorts has now proposed a new six-star hotel, casino, concert area, shopping centre and other facilities for the marina area, intended to be the "best resort within a city in Europe". The jewel in the project's crown, said to be worth hundreds of millions of euros in total over the next few years, would be a bid to alternate Formula 1 and Formula E races on a street layout. A source close to ARC confirmed that the idea is to "bring Formula 1 back" to Valencia, with the race this time to be privately organised. ARC said it has "very good relations" with the sport's officials, and said revenues earne...

Full article: http://www.motorsport.com/f1/news/consortium-wants-valenc...

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