Ratchadamnoen Avenue and Muang Thong Thani are among potential venues to host a Formula One Grand Prix in 2014, officials confirmed yesterday.
Kanokphand Chulakasem, governor of the Sports Authority of Thailand, said the country would definitely get the green light to stage a Formula One race in November 2014.
The event, to be called the Formula One Grand Prix Thailand, is likely to be a night race.
Although details, including the fee and venue, are still to be finalised, the SAT governor is confident that it will take place in Thailand.
"A contract is likely to be signed later this year," Kanokphand said.
"It is likely to be a one-year deal with an option to extend."
The government would shoulder about 60 percent of the total cost and the rest would be paid by private companies such as Red Bull and Singha Corporation, he said.
It could be staged at Ratchadamnoen Avenue or Muang Thong Thani, the SAT governor said.
Such a big project must be approved by the government and a public hearing may be needed before any official green light would be given.
"We have been working closely with F1 officials to look for the best site," Kanokphand said.
Michael de Santiesteban from Red Bull said Thailand would certainly be a Formula One host in 2014.
"Concerned parties have been in talks to finalise details," he said.