Mohamed Tawfik Johari, Malaysia's Minister of Youth and Sports, announced on Thursday that the country is considering the possibility of hosting Formula 1 races again, either seasonally or on a rotational basis every few years, as the government evaluates the costs and economic returns associated with the event. The Sepang circuit hosted Formula 1 World Championship rounds seasonally between 1999 and 2017, before leaving the championship schedule due to declining attendance and rising hosting costs.
Economic Feasibility Assessment
Johari confirmed before Parliament that discussions regarding the return of the race to Malaysia are still in their early stages, clarifying that one of the proposed options involves hosting it periodically in cooperation with another country. He explained that a report assessing the economic and technical feasibility of the project is expected to be submitted to the Cabinet by November next year. The minister stated that hosting Formula 1 races requires massive investments, and there are many aspects that must be studied carefully before making any decision.
Returns and Infrastructure
Johari pointed out that preliminary estimates indicate that the race hosted by Malaysia this October contributed to economic returns of approximately 950 million ringgit, equivalent to 233 million dollars. The circuit returned to the spotlight earlier this October when it exceptionally hosted the Bahrain Grand Prix, after it was moved from its original location due to ongoing tensions in the Middle East. The minister emphasized the need to study whether similar returns can be achieved regularly, as well as evaluating the readiness of infrastructure to meet the requirements of hosting the event in the future.
Historical Context
Malaysia's participation in the world championship dates back to a long period that ended years ago, as the circuit was an essential part of the race schedule for many years. The current interest in returning the race to the global sports agenda is reflected, especially after the exceptional success achieved by the temporary race hosted last month. The current step remains in the preliminary evaluation phase, as the government awaits the results of the technical and economic report to make the final decision regarding the future of the race in the country.
Source: Arriyadiyah newspaper
Comments (0)