Singapore announced a five-year extension for its spectacular night-time Formula One grand prix on Saturday following months of hard bargaining for cheaper fees.
Singapore minister of trade and industry S. Iswaran (left) takes questions while Formula One rights-holder Bernie Ecclestone looks on during a press conference at Formula One's Singapore Grand Prix night race in Singapore. Singapore extended its glittering night-time Formula One grand prix for another five years until 2017 after lengthy haggling for cheaper fees.
No price-tag for the new deal to 2017 was revealed, but Formula One commercial rights-holder Bernie Ecclestone said repeatedly that the Singapore government had proven tough negotiators.
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