Highlights

Singapore may announce F1 plans on Friday - paper

(Reuters)
Updated: 2007-03-29 10:39

Singapore may announce plans to host a Formula One grand prix as early as Friday, possibly ending months of speculation over a deal to bring a race to the city-state, a local paper reported.

Singapore, which wants to host a grand prix to boost tourism and jazz up its image, is expected to announce its Formula One [FOON.UL] plans next week at the latest, the Straits Times reported on Thursday, citing unnamed sources.

"There are just a few loose ends left in the deal to tie up. An announcement could be made as soon as Friday," a source said.

The Singaporean government said last week it would help to cover the costs of holding the event, which may be held at night under floodlights -- a first for the sport.

Formula One supremo Bernie Ecclestone met with Singapore tycoon Ong Beng Seng, who controls resorts developer Hotel Properties Ltd. , two weeks ago to discuss the possibility of holding a street race at night.