Singapore Night Race Confirmed on 2008 Formula One Schedule

Formula One's first night race will be held in Singapore in 2008 after the 18-Grands Prix calendar was confirmed today by the sport's governing body.

The city-state will host the Sept. 28 event, which it hopes will draw 80,000 spectators and generate S$100 million ($68 million) in tourism spending.

The race further boosts the profile of the world's most- watched motorsport in Asia. Singapore is also one of three street-races along with Monaco and Valencia.

The season ends on Nov. 2 at the Interlagos circuit in Brazil, where Ferrari's Kimi Raikkonen three days ago secured the drivers' title by winning the race. His title is subject to McLaren failing in an appeal against several drivers not being penalized for fuel irregularities.

Elsewhere, the Spyker team has been granted permission to change its name to Force India Formula One, the Federation Internationale de l'Automobile said. Spyker, bought this month by Indian billionaire Vijay Mallya for $109 million, scored one championship point this season.

The sport's first Indian-owned team, which was previously named Midland F1, will race in the colors of the Indian flag, the BBC reported.

A request from Ferrari, winner of the constructors' title, to continue to supply engines for Spyker and Toro Rosso for the next two years was also approved.

The FIA announced in the same statement that there will be a freeze on engine development for 10 years from 2008.