This is how much the F1 extension will cost for the next 5 years

Expenses will be around a whopping $150m.

According to OCBC, the F1 extension for the next 5 years will cost about $150m, with the government co-funding 60% of the amount, with reference to Minister Iswaran's statement.

It was previously reported that Singapore GP Pte Ltd has exercised its option to extend the city’s contract to host a round of the FIA Formula 1™ World Championship for a further five-year period until 2017. 

According to a release, since the inaugural FORMULA 1 SINGTEL SINGAPORE GRAND PRIX in 2008, over 200,000 spectators have flocked to the spectacular Marina Bay Street Circuit each year to watch the world’s finest drivers in action.

The television audience for Singapore’s round of the World Championship in that four-year period has averaged almost 100 million.

On the ticketing front, all 84,317 tickets to the 2012 FORMULA 1 SINGTEL SINGAPORE GRAND PRIX is now sold out.