Formula 1 Reportedly Considering Holding A Race In Vietnam
Vietnam "appears to be on track to get a slot" on the Formula 1 calendar, with sources suggesting there "could be an announcement about a street race" in the country in the coming weeks, according to Christian Sylt for FORBES. This emerged from "a busy day of meetings in London" at a gathering of the Formula One Promoters Association in the Sofitel London St. James hotel. One source said, "Vietnam street race is what they are going to announce." It "is believed that the race is planned" for the streets of Vietnam’s capital, Hanoi, but it has "not yet been officially announced so it could still fail to get to the finish line." It is "no secret that a plan for a race in the country is in the works." Former F1 CEO Bernie Ecclestone said that he "declined the chance to meet the president of Vietnam and sign a race in the country," even though Vietnam "would have paid" an estimated $391.2M over the 10 years of its contract. A track "was due to be built near to Ho Chi Minh City" in '10 but "hit the buffers." Vietnam's first race track, which opened in '16, has standards that "are far below F1 specification." A track that would meet F1 standards "was reportedly under consideration" in '16. It is understood that a foreign group "was seeking investment to build it in Hanoi and carried out a feasibility study" (FORBES, 1/17).