Feasibility study needed to determine F1's future here, says Taufiq
KUALA LUMPUR: Youth and Sports Minister Dr Taufiq Johari stressed that a lot of factors have to be considered when asked whether Malaysia would be willing to once again step in as a replacement venue for Formula One next year.
KUALA LUMPUR: Youth and Sports Minister Dr Taufiq Johari has stated that determining the future of Formula One in Malaysia requires careful consideration of various factors. Sepang Circuit previously hosted the Bahrain Grand Prix in October, on behalf of the Bahrain government. The race was initially scheduled for April but was postponed due to geopolitical tensions in the Middle East.
Dr Taufiq emphasized that Malaysia must assess whether hosting the event would bring benefits to the country, basing decisions on factual data. If hosting F1 in Malaysia proves advantageous, the government will pursue the option. Conversely, if hosting leads to a financial loss, the cabinet will be informed, ultimately making the final decision.
To explore the feasibility of hosting F1 in the future, a special committee will be established. This committee will conduct an economic impact study of the Bahrain Grand Prix, which is currently underway. The study aims to evaluate the overall success of the event, taking into account factors beyond ticket sales, such as economic spillover from local traders, food and beverage establishments, hotels, and tourism.
Dr Taufiq clarified that these findings have not been finalized yet. Once the results are available and verified, the government will announce them to the media. Dr Taufiq made these remarks during a press conference promoting the Petronas Grand Prix of Malaysia, which will take place on October 30-31 at the Sepang Circuit.
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