Thailand Allocates $1.2B for Bangkok Formula 1 Grand Prix Bid

According to Tourism Minister Sorawong Thienthong’s announcement, the Thai government has approved a $1.2 billion budget to host Formula 1 races on Bangkok streets — marking a significant step toward realizing Thailand F1 Grand Prix.

The plan will bring Thailand to the F1 calendar starting 2028 with an initial five-year contract. Formula 1 CEO Stefano Domenicali and Thai Williams driver Alex Albon have been involved in discussions with Thai authorities.

Alex Albon, who met with Prime Minister Paetongtarn Shinawatra before April’s Japanese GP, expressed being impressed with the proposed circuit design.

“The project is moving forward and Thailand is taking it very seriously. From what I’ve seen, they have a very strong product,” said Albon.

With F1’s schedule already reaching 24 races per season, Bangkok’s entry to the racing calendar would mark F1’s return to Southeast Asia — the first since the last Malaysian GP eight years ago.