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Thailand's cabinet has approved a US$1.2 billion bid to host a Formula One street race in its capital Bangkok in 2028, government officials said on Tuesday.

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A government spokesperson confirms that the Thai cabinet has approved a $1.2bn bid to host an F1 race in Bangkok.

The Thailand government has approved a USD 1.2 billion budget aimed to secure a spot in the Formula One calendar for 2028.

The Thai government has approved a $1.2 billion proposal to host a Formula 1 race on the streets of Bangkok, with the first ...