Sepang Worldwide Circuit CEO Azhan Shafriman Hanif believes it was a mistake for Malaysia to cease internet hosting Formulation 1 one races, studies NST. The final time a F1 race was held right here was in 2017, with then prime minister Datuk Seri Najib Tun Razak saying that no additional races could be held from 2018 onwards.
Attributable to excessive organising prices, reducing world curiosity and poor ticket gross sales have been cited as causes on the time for the choice to cease internet hosting F1 races in Malaysia, bringing an finish to an annual spectacle that began in 1999.
Shafriman stated there’s a lengthy ready listing for a slot on the F1 calendar, which makes it very tough to convey again the race to Sepang. He revealed that SIC is presently getting ready to barter a contract renewal for MotoGP internet hosting rights with Dorna Sports activities. “We don’t need to repeat the errors of the previous. We let F1 go and now it is extremely exhausting to get it again. I hope we don’t make the identical mistake with MotoGP,” he stated.
“There’s a ready listing to get again in (for F1) and naturally, the prices are very costly. We have been quoted USD70 million race (about RM295 million) charges (by homeowners Liberty Media). That’s for every occasion (version of Malaysian Grand Prix). That doesn’t embody our setup prices that are within the area of RM10 to RM20 million for every occasion,” he continued.
“In whole, it could value us greater than RM300 million to convey again the race (yearly). Lots of people (nations) are queuing so it gained’t be straightforward. But when we’re actually severe about it, then possibly we will begin the dialog,” he added.
Present homeowners Liberty Media, which introduced a controlling curiosity within the Formulation One Group in late 2016, has injected new life into the motorsport. The introduction of Saturday dash races in 2021, extra engagement in addition to the Netflix collection Drive to Survivehave helped enhance curiosity.
Shafriman famous there may be sturdy curiosity in bringing again F1 to Sepang and believes it may very well be profitable if completed the suitable method. “It isn’t simply SIC that wishes Formulation One. Many different stakeholders from each the federal government in addition to the company sector additionally need it again,” he stated.
“We’ve got to take a look at how Singapore is internet hosting it. They’ve everybody on board in making it a hit, from the ministries to the company sector to the lodges. All people contributes. It must be like that if we convey it again right here,” he added. Nonetheless, the confused that it’s going to take a while to show a revenue if Malaysia does resolve to as soon as once more host F1.
SIC final week claimed that the Petronas Grand Prix of Malaysia (MotoGP) gives 6.3 instances return on funding for Malaysia primarily based on an financial impression research performed final yr. “It should take time. Even with MotoGP, it took time for us to extend the ROI. The essential factor is that everybody (stakeholders) comes collectively,” stated Shafriman.
“All this whereas folks view MotoGP and Formulation One as SIC’s occasions, when they’re truly nationwide occasions. We’re on the forefront when it comes to managing the factor, branding and so forth, however basically they’re Malaysian occasions,” he ended.
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