The Thai government is set to vote on whether to progress plans to host a round of the 2015 Formula One championship in the capital city, Bangkok.
The vote will go ahead in late April or early May to give the organisers time to finalise a master plan before submitting it to the cabinet for final approval.
Should the government green light the project, the inaugural race would likely take place in 2015 and will be a night race similar to the Singapore Grand Prix, using existing city streets.
The Sports Authority of Thailand governor, Kanokphand Chulakasem, confirmed no contracts had yet been signed between the organisers and Formula One Management, but this would be sought following government approval.
Two main investors are behind the project. Red Bull and Singha beer are believed to be providing upwards of 40 per cent of the necessary funding, whilst the government will make up the remainder.
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