KUALA LUMPUR – While local and international motorsports fans would love to see the prestigious Formula One (F1) cars racing on the Sepang International Circuit (SIC) again, the high cost of hosting the race remains a big hindrance.
With costs estimated at over RM200 million annually, Motorsports Association of Malaysia (MAM) president Tan Sri Mokhzani Mahathir said the possibility of bringing back F1 remains to be seen, what more while the ringgit’s instability against the US dollar.
He did add that F1 could make a comeback to SIC in the next three to five years if corporate entities are willing to sponsor the cost.
“Being the host is not a problem. It is a question of who is going to pay and whether we can afford it or not. I have no idea what it is (the cost) right now, but definitely higher than when we stopped in 2017.
“F1 is more popular than it used to be. It gained a new audience after the Formula 1: Drive to Survive Netflix series, while a lot of countries are bidding for the race,” he told reporters during the MAM Hari Raya Aidilfitri open house here today, which was also attended by Youth and Sports Minister Hannah Yeoh.
Malaysia first began hosting F1 races in 1999 and the government decided to bring it to an end in 2017 due to a significant decline in returns.
Mokhzani said despite not hosting the race for six years now, the popularity of SIC remains among F1 enthusiasts and drivers.
“We get comments from drivers themselves that Sepang is one of the challenging tracks they want to see back on the calendar. We have always had a good relationship with the organisers. We’ve known them since 1996 when we started discussions to host the race, so it is a matter of time,” he added.
Meanwhile, he said MAM’s priority for now is to focus on grassroots talent development and ensure all motorsports events in the country are organised safely for both racers and spectators.
Yeoh, who lauded the effort, said more discussions were needed with stakeholders, industry players, and enforcement agencies to impose stricter measures on race organisers.
“I have visited several stakeholders for motorsports. I believe this industry still has more potential to be developed. But we have to ensure safety is the main aspect,” she told reporters. – Bernama, May 13, 2023
