Vietnam targeting an F1 race deal

Vietnam is set to join the Formula 1 calendar, according to Forbes. Before Liberty Media's acquisition of F1 in January 2017, talks had been held between former F1 supremo Bernie Ecclestone and the Asian country regarding a Grand Prix.

However, Ecclestone cancelled the talks, turning down a $391.2m deal that would see Vietnam hold a 10-year contract: "I was approached about having a race in Vietnam," Ecclestone previously said. "I was offered the opportunity to meet the president about doing a deal for a Grand Prix. I could have done the deal and signed it in August. Everything was arranged for this to happen."

It is now believed that a meeting took place between in London this week with the Formula 1 Promoters Association present, and a source confirmed to Forbes: "A Vietnam street race is what they are going to announce."

It is understood that if plans were officially confirmed, the race will run through the streets of the country's capital, Hanoi. In 2010, proposals were launched to design a track in Ho Chi Minh City, but the idea was dropped as the country had strict rules which restricted locals from betting on sports events. 

But these laws have since been relaxed and it now permits anyone with a monthly income exceeding £360 to take part in sports betting. The laws were ceased shortly after the nation's first race track was opened, called HappyLand Circuit.