Confirming that his country will definitely host a round of the 2014 world championship, the governor of the Sports Authority of Thailand (SAT) reveals that a number of possible venues are under consideration.

According to Kanokphand Chulakasem, Ratchadamnoen Avenue in Bangkok, which was first mooted as an ideal location for motor racing by Prince Bira (Prince Birabongse Bhanudej Bhanubandh), back in 1939, and Muang Thong Thani, home to Impact, a complex frequently used as the venue for exhibitions and entertainment events, are both under consideration.

"A contract is likely to be signed later this year," Kanokphand told the Bangkok Post. "It is likely to be a one-year deal with an option to extend."

While the government is expected to put up as much as 60 percent of the funding, the rest would come from private companies including Red Bull and the Singha Corporation. However, the project has yet to be officially approved by the government, a move that may require a public hearing.

"We have been working closely with F1 officials to look for the best site," said Kanokphand, while Red Bull's Michael de Santiesteban insists that Thailand is ready to host a race in 2014 and that it will happen. "Concerned parties have been in talks to finalise the details," he said.