Brand new F1 track given astonishing $1.2 BILLION backing

Thailand's hopes of bringing F1 to Bangkok have been given a major boost after it was revealed that cabinet have approved a bid during a meeting this week.

If successful, the planned street circuit would feature on the calendar from 2028 on an initial five-year contract, according to Reuters, with around $1.2billion now agreed to be set aside for the bid.

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"In the next two-three years, Thailand will have world-class competition, which we never thought would actually happen in Thailand," said government spokesperson Jirayu Houngsub during a press conference.

Tourism minister Sorawong Thienthong also spoke to media on Tuesday, and referenced the staggering sum of money which has been approved.

Thailand GP dream edges closer

In March, Thai prime minister Paetongtarn Shinawatra met with F1 boss Stefano Domenicali to discuss whether a bid was feasible, with this week's revelation another significant step in the right direction.

The government hopes a yearly F1 event would help promote tourism, which is one of the key drivers of the country's economy.

Thailand already has an FIA-accredited track in Buriram in the northeast of the country, which stages a round of the MotoGP championship, but this proposal would see a brand new street circuit built in the capital.

The F1 calendar is currently at full capacity, with 24 races on the schedule once again in 2025, meaning the addition of any new host venue would either result in a track being axed, or an expanded F1 schedule.

The Imola GP is the latest to be cut by the sport's bosses, as Madrid gets set to host its first race in September 2026.

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