An application filed by Formula 1 for the trademark to “Philippine Grand Prix” and “Manila Grand Prix” has stoked interest that the premier motorsports event could one day hold a race in the country.

The Britain-based online newspaper Independent published a story Saturday detailing the development, which it said is the “first time the Philippines has ever been publicly linked with an F1 race.”

F1 reportedly submitted the application on January 7 to the Intellectual Property Office, which is based in Taguig.

While the news is described as “a crucial step” for any country wanting to host the competition and welcome the biggest global brands in the automotive industry, getting the plan off the ground is trickier.

According to the Independent article, written by Christian Sylt, 16.7 million pounds is needed to organize a race on a permanent track, which doesn’t include the annual hosting fee that costs 23.3 million pounds on average. Converted, that amounts to P2.78 billion.

How a Philippine GP fits into the F1 calendar is also a factor. Besides the Singapore race, Vietnam will host a grand prix beginning in 2020.

The article noted that the trademark application coincides with the construction of a 5-kilometer racetrack — the Pradera Verde Racing Circuit — in Lubao, Pampanga.

According to SpaceFabrik, an architecture firm based in Mandaluyong, the project has “has 100 hectares allocated for a racing circuit.” (Click here to see a schematic illustration of the track.)

“The client’s goal is to have a premiere racing destination in Southeast Asia,” said the company, which is partnering on the track construction with Hermann Tilke, a German architect known for his work in the F1 circuit.

Tilke is overseeing the 5.56-kilometer F1 street circuit in Hanoi.

“The Philippines currently has only two racing circuits that are operating and have only held Formula 4 as their highest-rated FiA (International Automobile Federation) event,” SpaceFabrik said.

“One of the aims is to have at least FiA Grade 2 circuit with a length of 5 kilometers and a host of support and commercial facilities to make it attractive to motorsports enthusiasts.”

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