No plans to bring Formula One GP back to Malaysia, sports minister says

KUALA LUMPUR – Malaysia has no plans to bring back the annual Formula One race due to high sponsorship costs and a tight racing calendar, its Youth and Sports Minister Hannah Yeoh told parliament on Aug 21.

Malaysia previously hosted a leg of the F1 world championship at its Sepang International Circuit (SIC) between 1999 and 2017.

Ms Yeoh said that the event would require a commitment of around RM300 million (S$91.4 million) annually for between three to five years, an amount that is more than double the government’s development costs for 20 national sports programmes.

Malaysia would also have to compete with other hosting countries in South-east Asia, such as Singapore and Thailand, for a spot on the racing calendar, she said.

The Thai government in June approved a US$1.2 billion (S$1.54 billion) bid to host a F1 race in Bangkok in 2028.

Malaysia, however, remains open to hosting the event if any private companies were willing to bear the costs, Ms Yeoh said, adding that interested parties can get in touch with the SIC for further discussions.

“Formula One 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,” she said.

“Organising F1 races requires the government to pay about RM300 million annually to Liberty Media, which holds the F1 commercial rights. Malaysia must also bind itself to a contract of between three to five years with the said company, amounting to a commitment of about RM1.5 billlion during this period.”

State energy firm Petroliam Nasional Berhad, or Petronas, which is wholly owned by the government, holds the naming rights to the SIC, which continues to host MotoGP races and other motor racing events.

Reuters reported in 2024 that Petronas was planning to bring F1 back to Malaysia in 2026, citing sources, though the company said it had not held discussions to bring the race back to the SIC.

A day before Ms Yeoh’s statement, SIC chief executive Azhan Shafriman Hanif also said “the costs are very expensive” to host an F1 race.

“We have to look at how Singapore is hosting it. They have everyone on board in making it a success, from the ministries to the corporate sector to the hotels. Everybody contributes,” he added. “It has to be like that if we bring it back here.”

In related news, it was reported on motor racing website GPblog that Portimao, where the Portuguese Grand Prix took place, has held a meeting regarding a return to the F1 calendar.

However, with only 24 slots available, the circuit will have to wait for an opportunity. REUTERS