The corruption scandal that broke out in Singapore in 2023 apparently does not pose a threat to the national stage of the World Cup – the contract for this popular Grand Prix runs until 2028.
Last summer, Singapore’s anti-corruption bureau opened a case against Transport Minister S. Iswaran, who actively participated in organizing the Formula 1 race. He was charged with several charges, mainly bribery. He admits no guilt and plans to defend his name in court.
During the investigation, an arrest warrant was also issued for a renowned businessman, billionaire Ong Beng Seng, the promoter of the Singapore Grand Prix.
In this regard, there has been talk that the race may be excluded from the Formula 1 calendar, but Singapore’s Ministry of Labor and Industry has issued a statement saying that the government is conducting a detailed analysis of all existing agreements. entrusted to independent experts.
“There is nothing to indicate that the Formula 1 contracts or other agreements were entered into with the intention of harming the government,” the ministry said in a statement. It also highlights that over the years of the race i.e. Since 2008, the Singapore Grand Prix has delivered significant benefits to the national economy.
“The race attracted more than 550,000 foreign visitors and generated tourism revenue of approximately S$2 billion,” Singapore’s Ministry of Labor and Industry said, adding that the Grand Prix also cemented Singapore’s reputation as a major hub in the global and Asian economy .
Source: F1 News
I am Christopher Clyde, an experienced journalist and content writer with a passion for sports. I have been writing about Formula 1 news for the past five years and am currently employed as an author at athletistic.com, one of the top sports websites in the US.
