Popular event rules out potential F1 calendar return

Formula 1 is unlikely to return to Malaysia for the foreseeable future, according to its youth and sports minister.

Hannah Yeoh has played down the prospect of the world championship racing in Sepang, citing the high costs involved in the event.

F1 unlikely to return to Sepang

Yeoh has stated that the high prices associated with hosting a Formula 1 event could be better used elsewhere.

“Organising F1 races requires the government to pay about 300 million Ringgit ($71.1m; £52.7m) annually to Liberty Media, which holds the F1 commercial rights,” Yeoh said in parliament on Thursday.

“Malaysia must also bind itself to a contract of between three to five years with the said company, amounting to a commitment of about 1.5 billion Ringgit ($360m; £260m).”

That funding, she noted, would amount to more than double that needed to fund development programmes for more than 10,000 Malaysian athletes.

However, Yeoh stopped short of closing the door to an F1 return entirely, suggesting that there is an appetite for an event, but not with government money.

“Formula 1 is a prestigious sports event that is followed by fans around the world. So if we could afford it, it would be good to have it in Malaysia,” Yeoh said.

“Those interested can connect with the SIC. We are open to this and can cooperate.”

PlanetF1.com understands government funding is not essential for a new F1 event, but submissions without it are considered significantly less viable. The absence of government money behind the latest South African effort has seen it described to this publication as ‘chaotic’ and ‘without substance’.

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Malaysia last hosted Formula 1 in 2017 before flagging spectator attendance and rising costs meant it was not renewed.

Speaking earlier this month, Sepang International Circuit CEO Azhan Shafriman Hanif suggested it was a mistake to allow the race to lapse.

Shafriman is currently engaged in discussions to secure MotoGP’s future at the venue, located adjacent to the Kuala Lumpur International Airport.

“We do not want to repeat the mistakes of the past. We let Formula One go and now it is very hard to get it back. I hope we don’t make the same mistake with MotoGP,” he told the New Straits Times of a potential F1 return.

“There is a waiting list to get back in and of course, the costs are very expensive. We were quoted $70 million race fees.

“That is for each event. That does not include our setup costs which are in the region of 10 million to 20 million Ringgit for each event.

“In total, it would cost us more than 300 million Ringgit to bring back the race.

“A lot of people are queuing so it won’t be easy. But if we are really serious about it, then maybe we can start the conversation.”

Also working against a return to Malaysia is a project in Thailand, where the government has approved 414.4 billion baht ($1.27 billion; £9.4 billion) for a race around the streets of Bangkok.

Yet to receive the official go-ahead, the Thai project is understood to be the most likely new addition to the calendar. It is targeting an inaugural event in 2028.

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