Singapore Grand Prix may stay beyond 2018 – but not on ‘frustrated’ Bernie Ecclestone’s terms, says expert
Deloitte’s James Walton says the F1 supremo may be annoyed at Singapore’s demands to pay less for the grand prix, the 86-year-old having earlier accused the city state of being ‘ungrateful’
Bernie Ecclestone’s frustration at the pace of negotiations with Singapore Grand Prix organisers may have prompted his outburst to a German magazine, which reported the Formula One chief as accusing the city state of being ungrateful and on the verge of leaving the circuit.
James Walton, partner and Southeast Asia sports business group leader for Deloitte in Singapore, said he believed Singapore wants to stay in the Formula One schedule after its contract expires in 2018 but on its own terms – a stance that Ecclestone is struggling to deal with.
The 86-year-old Briton made a U-turn one day later, saying he was misquoted and that he wanted a “long-term” deal with Singapore – which Walton said was unusual for the normally outspoken tycoon.
“Bernie Ecclestone has a history of making off-the-cuff comments and speaks his mind, so his first comments were not out of character,” said Walton. “I was asked at the time if this was a negotiation tactic but this is not a negotiation tactic that any business school will teach. A proper tactic would be that if Singapore doesn’t want it someone else will.
“When I first read his comments about Singapore being ungrateful I felt this is someone frustrated with the way negotiations are going and given the current economic climate, perhaps Singapore is negotiating more firmly and looking downwards in terms of price and he may not particularly agree with that.”
