Malaysia Eyes Return of Formula 1 Admits Letting It Go Was a Mistake
The CEO of Sepang International Circuit (SIC), Azhan Shafriman Hanif, has acknowledged that Malaysia’s decision to withdraw from hosting Formula 1 was a strategic misstep. In an interview with the New Straits Times, he stated:
"We allowed Formula 1 to leave and now it is extremely difficult to bring it back.I hope we do not repeat the same mistake with MotoGP."
According to Hanif, there is now renewed interest in reviving the Malaysian Grand Prix, not only from SIC, but also from government and corporate stakeholders. The Malaysian authorities are reportedly prepared to support the initiative. However, the financial requirements have increased significantly the hosting fee alone is estimated at around $70 million per race, excluding annual operational and organizational costs, which range from 10 to 20 million Malaysian ringgit ($2.3 to $4.7 million).
Despite the challenges, SIC believes that with a unified and strategic approach similar to Singapore’s model where government, corporate, and tourism sectors collaborate the return of Formula 1 to Malaysia is possible.
From 1999 to 2017, the Sepang Circuit hosted 19 Grands Prix, which became known for their exciting racing and the unpredictable local weather conditions.
