Mahathir backs Malaysia bringing F1 back to Sepang

PETALING JAYA – Malaysia should consider bringing back the Formula One race and reclaiming its hosting rights if the upcoming Sepang event proves successful, said Mahathir Mohamad.

The former prime minister said the government should assess the number of tourists attracted by the race – the Oct 2-4 Bahrain Grand Prix in Malaysia – and their spending before deciding whether to pursue its own F1 rights.

“When we have the race, we can see how many tourists come, how much they spend and so on as a return on our investment,” he said in a recent podcast interview published on Aug 13.

Mahathir said the cost of hosting the F1 race should also be considered against the current value of money, noting that the RM100 million (S$31.3 million) fee that once appeared expensive was now comparatively less significant.

“Previously, RM100 million was a lot. Now RM100 million is equivalent to RM50 million, which is not much,” he said.

Mahathir said F1 could generate significant economic benefits by attracting foreign tourists who would spend on hotels, food and other activities.

“When tourists come, they don’t just buy tickets as spectators but need to stay in Malaysia for several days. They will rent hotel rooms and eat. So there is an inflow of money into Malaysia,” he said.

He said the original decision to bring F1 to Sepang was driven by its potential to attract tourists and raise Malaysia’s international profile, rather than simply generate direct profits from ticket sales.

“We need to create an event that can attract tourists, and we thought the F1 race would attract many customers.

“They come from all over the world, and locals also come in large numbers. So it stimulates the tourism industry,” he said.

Mahathir also defended the investment in the Sepang International Circuit, saying Malaysia had already recovered the cost of building the track.

“At this time, we have already recovered the investment we made in the F1 track.

“From the F1 track, we have earned enough money to cover the cost of building the track.

“So we are using the track free of charge,” he said.

Malaysia hosted its first F1 race in 1999. The Malaysian Grand Prix ran for 19 years, with the final race held in 2017.

F1 is scheduled to return to Sepang in 2026 under an arrangement in which Bahrain is hosting the race in Malaysia.

The grands prix in Bahrain and Saudi Arabia were cancelled in April after the Iran war broke out.

Mahathir said the current event could provide useful data on the potential economic impact of bringing back Malaysia’s own F1 rights.

“The race belongs to Bahrain. It’s not a Malaysian race, but it is located in Malaysia, and because it is located in Malaysia, we get the benefit of tourists and all that,” he said. THE STAR/ASIA NEWS NETWORK