The event does not cater to the average Singaporean. In the earlier years, it was an annual S$150 million in organising costs.Ģ. If one assumes a generous 30 per cent operating margin, this gives around S$36 million operating profits, some proportion of which will accrue to international hotel chain franchises. To generate these receipts, the Singapore Government subsidises 60 per cent of the reported S$135 million a year in cost to host the night race - or a subsidy of around $80 million a year - making this a deeply loss-making and subsidised tourist endeavour. It is a huge economic drain for taxpayers. The F1 generates an estimated S$120 million in annual tourism receipts. Or use code C7JLWHQQM04 to join the K1 Speed Fantasy League.I refer to the article " Organisers cancel this year’s Singapore Formula 1 Grand Prix in light of Covid-19 pandemic" (June 12) and suggest that we do not renew the contract for the race when it expires in 2021 because of the following three reasons.ġ. Make your selections, but watch your budget.Join the K1 Speed Canada League (Code C7JLWHQQM04).Recently updates were shared for the 2023 Fantasy season, learn more about points, changes to the 2023 program, boosters, substitutions and power-ups! All of your selected drivers and constructors score points based on how those specific drivers perform in the real world. This is your chance to put all of your racing knowledge to the test and win free races at K1 Speed Canada. You could win sweet prizes during races and make each Grand Prix more exciting by joining our K1 Speed Fantasy league! Participants of the K1 Speed league will be added to a private Fantasy League chat to discuss all things racing. If there is a tie, we’ll use a random selector to pick a winner.And fastest lap points for the constructors will be added to the points already scored by the two drivers of that team. Price changes will occur once per week, at the start of each new race week. Each participant will have a $100 million dollar budget to pick two constructors, and five drivers. It’s time to put your (virtual) money where your mouth is and pick your top racers. For the first year ever, we’ll be hosting our very own Fantasy League with some pretty sweet prizes!
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