According to AFP, the bidding value is up to 1.2 billion USD, if approved by the F1 management agency, the capital Bangkok of Thailand will host a stage of the F1 race from 2028 to 2032.
Thai Prime Minister Paetongtarn Shinawatra has held many meetings with F1 Stefano Domenicali in recent months to promote the project, including last month's meeting in Monaco, home of the sport's most prestigious street racing tournament.
The location of the potential Bangkok street has not been revealed, but Government spokesman Jirayu Houngsub said it could include an area near Chatuchak Market in the north of the city, which attracts tourists every weekend.
Most of F1's 24-lap schedule has been confirmed for many years but there will be gaps. According to Domenicali, Thailand could be a candidate to participate in the world's most exciting speed race in the future.
In Southeast Asia, Singapore is currently the only country to organize an F1 race. The race in Singapore is considered to bring many challenges to runners due to hot and humid weather.
Meanwhile, Malaysia has also hosted an F1 race at the Sepang racetrack since 1999, but in 2017 they stopped due to high costs and declining ticket sales.
Thailand's only current Formula 1 driver is Alex Albon, born in London with the Williams team
