P1racenews AI automatic summary:
Brand new F1 track given astonishing $1.2 BILLION backing
Thailand’s hopes of hosting the Formula 1 in Bangkok received a significant boost as the cabinet approved a bid during a recent meeting. If successful, the street circuit could join the calendar from 2028 on a five-year contract, with a proposed budget of $1.2 billion. Government spokesperson Jirayu Houngsub emphasized the potential for world-class competition in Thailand in the coming years. Tourism minister Sorawong Thienthong highlighted the approved budget during media discussions. The development marks a crucial step forward in Thailand’s ambition to organize an annual F1 event to boost tourism and the country’s economy. Meetings between Thai officials and F1 representatives, including F1 boss Stefano Domenicali, showcase the country’s strong push towards realizing the dream of hosting a Grand Prix.
