Sepang International Circuit (SIC) is drafting a feasibility study on the return of Formula 1 to Malaysia, for presenting to the Cabinet in November, reported Bernama.
The motorsport venue is currently holding engagement sessions with the Malaysian government, relevant agencies and industry players to obtain information and data for inclusion in the study, said Sepang International Circuit CEO Azhan Shafriman Hanif.
Findings from the study will serve as one of the factors for the government to consider before deciding whether or not Malaysia should return as a host of the Formula 1 series, Shafriman said.
“We are in the process of preparing a feasibility study of bringing Formula 1 back to Malaysia. In November, we will present a proposal paper to the Cabinet for the government to decide whether to agree to the proposal. During this period, we expect to hold engagement sessions with the government, relevant agencies and industry players to ensure that the data presented is accurate,” Shafriman told Bernama.
The study will pay particular attention to the economic impact of hosting Formula 1, in addition to assessing the country’s preparedness especially in terms of traffic congestion management and public transport facilities, he said.
On the prospects of Malaysia returning as a host of the Formula 1 series, the final decision will depend on the government’s consideration of the study’s findings, he said. “For now, it is still 50-50. It is difficult for me to say yes or no (whether the series will return or not). But, insya-Allah, we will provide verified data or information to help the government come to a decision,” Shafriman said.
The premier open-wheel racing formula returned to Malaysia after nearly a decade since its last running at the Sepang International Circuit, as the venue hosted the Formula 1 Gulf Air Bahrain Grand Prix in Malaysia as a replacement for the round that was originally scheduled to be held on April 12 in Bahrain. The Iran War forced its rescheduling to October 4, and would see the race relocated to Malaysia for that weekend.
Following the action-packed race that was won by Max Verstappen, who also won at Sepang the last time around, Malaysian prime minister Datuk Seri Anwar Ibrahim has said the country is in talks for a possible return to the Formula 1 calendar.
President of the Fédération Internationale de l’Automobile (FIA), Mohammed Ben Sulayem said that Malaysia’s return to the Formula 1 calendar is possible, but it depends on a credible, long-term business plan backed by the government and strong fan demand.
In terms of numbers, entrepreneur development and cooperatives minister Steven Sim said that MSMEs reaped over RM345 million in economic spillover effects, while the youth and sports ministry said that nearly RM950 million in total monetary value was injected into the Malaysian economy from the event.
