Formula 1 is unlikely to return to Malaysia for the foreseeable future, according to its youth and sports minister.<\/p>\n
Hannah Yeoh has played down the prospect of the world championship racing in Sepang, citing the high costs involved in the event.<\/p>\n
F1 unlikely to return to Sepang<\/p>\n
Yeoh has stated that the high prices associated with hosting a Formula 1 event could be better used elsewhere.<\/p>\n
\u201cOrganising F1 races requires the government to pay about 300 million Ringgit ($71.1m; \u00a352.7m) annually to Liberty Media, which holds the F1 commercial rights,\u201d Yeoh said in parliament on Thursday.<\/p>\n
\u201cMalaysia 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; \u00a3260m).\u201d<\/p>\n
That funding, she noted, would amount to more than double that needed to fund development programmes for more than 10,000 Malaysian athletes.<\/p>\n
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.<\/p>\n
\u201cFormula 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,\u201d Yeoh said.<\/p>\n
\u201cThose interested can connect with the SIC. We are open to this and can cooperate.\u201d<\/p>\n
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 \u2018chaotic\u2019 and \u2018without substance\u2019<\/a>.<\/p>\n More on F1 race contracts<\/p>\n \ud83d\udc49 F1 circuit contracts: What is the current contract status of every track?<\/a><\/p>\n \ud83d\udc49 Where will F1 find its next new race? Every project chasing future deal<\/a><\/p>\n Malaysia last hosted Formula 1 in 2017 before flagging interest and rising costs meant it was not renewed.<\/p>\n Speaking earlier this month, Sepang International Circuit CEO Azhan Shafriman Hanif suggested it was a mistake to allow the race to lapse.<\/p>\n Shafriman is currently engaged in discussions to secure MotoGP\u2019s future at the venue, located adjacent to the Kuala Lumpur International Airport.<\/p>\n \u201cWe 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\u2019t make the same mistake with MotoGP,\u201d he told the New Straits Times of a potential F1 return.<\/p>\n \u201cThere is a waiting list to get back in and of course, the costs are very expensive. We were quoted $70 million race fees.<\/p>\n \u201cThat 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.<\/p>\n \u201cIn total, it would cost us more than 300 million Ringgit to bring back the race.<\/p>\n \u201cA lot of people are queuing so it won\u2019t be easy. But if we are really serious about it, then maybe we can start the conversation.\u201d<\/p>\n Also working against a return to Malaysia is a project in Thailand<\/a>, where the government has approved 414.4 billion baht ($1.27 billion; \u00a39.4 billion) for a race around the streets of Bangkok.<\/p>\n 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.<\/p>\n