KUALA LUMPUR, Oct 15 (Reuters) – Malaysia is considering returning as a regular host of a Formula One race, either annually or once every few years, with the government assessing the costs and economic benefits, its sports minister said on Thursday.
• Malaysia’s Sepang circuit had hosted a leg of the Formula One championship annually between 1999 and 2017 before being dropped from the calendar amid declining ticket sales and concerns over rising hosting costs
• It returned earlier this month as a one-off host for a rescheduled Bahrain Grand Prix, after the race was cancelled at its original venue due to ongoing tensions in the Middle East
• Discussions on bringing the race regularly back to Malaysia were still at an early stage, including a proposal to host it once every few years in partnership with another country, Youth and Sports Minister Mohammed Taufiq Johari told parliament
• An assessment report was expected to be submitted to cabinet by November, he said
• “Staging F1 is not cheap. It involves quite substantial costs, and there are several important aspects that we need to assess,” he said
• While this month’s event was estimated to have generated around 950 million ringgit ($233 million) in economic returns, the government would need to consider if “we would obtain the same returns (every year), and whether we are ready in terms of the various infrastructure requirements,” he said
($1 = 4.0800 ringgit)
(Reporting by Rozanna Latiff; Editing by Peter Rutherford)
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