Thai Cabinet Approves $1.3 Billion Plan for F1 Race in Bangkok

Thailand’s cabinet approved a proposal for Bangkok to host a Formula One race for at least five years starting in 2028, earmarking 41.4 billion baht ($1.3 billion) in an effort to boost the nation’s image as a venue for international events and luxury tourism.

A Bangkok race would likely be in either March or September, depending on negotiations with Formula One Management Ltd. and The Fédération Internationale de l’Automobile, according to a Thai government statement issued Tuesday after the cabinet meeting.