Singapore is reportedly getting serious about the prospect of being the next Asian city to host a grand prix, and they're talking as early as the 2008 season. Reports indicate that F1 head-honcho Bernie Ecclestone is in negotiations with not one, but two Singaporean groups about getting a Formula One race in their small city-state.
One group has already commissioned a design for a unique racing circuit from Hermann Tilke, the same architect who penned the newest tracks in Malaysia, Bahrain, Istanbul and Shanghai. The second group is apparently pitching a grand prix on city streets, following on comments made last year by FIA President Max Mosley that Singapore's streets are wide enough to have the race running through the city, Monaco-style (only presumably with increased safety standards).
Calendaring in a grand prix in Singapore would in all likelihood mean cutting out another race in Europe, following the contemporary trend of de-Europeanizing and globalizing F1. Although that carries certain benefits, with the squads based almost exclusively in Europe, that means increased costs for the teams.
[Source: Motor Authority]