Malaysia will not be seeking to renew its contract once the current agreement expires in 2018.

After weeks of speculation, organisers in Malaysia have confirmed that the contract to hold the Malaysia Grand Prix will not be renewed once it expires in 2018.

"After 2018 no longer," the Malaysia the tourism and culture minister Nazri Abdul Aziz told reporters in parliament when asked about the future of the event.

"From the longer term perspective, it's probably the correct decision because it's more expensive and no longer that attractive," he insisted, according to Reuters.

Talk of the event being dropped first emerged last month when sports minister Khairy Jamaluddin took to Twitter to question why the country should continue hosting a race which has seen hosting fees rise by 10% year on year whilst at the same time witnessing ticket sales decrease by the same percentage.

"When we first hosted the F1 it was a big deal," he tweeted. "First in Asia outside Japan. Now so many venues. No first mover advantage. Not a novelty.

"F1 ticket sales declining, TV viewership down," he continued. "Foreign visitors down because can choose Singapore, China, Middle East. Returns are not as big.

"For the record I still think we should host MotoGP...1) Cheaper fee and cost, 2) Sell-out crowd, 3) We have riders in Moto2 and 3."

Indeed, organisers subsequently agreed a deal that will see MotoGP remain at the Sepang International Circuit until 2021.

"It's not very difficult to convince the Malaysian government to support the Malaysian Grand Prix because we achieve record-breaking crowds every year," said Razlan Razali, chief executive at the Sepang International Circuit, confirming the MotoGP deal. "MotoGP is no longer just a spectacle for Malaysians, it is now a platform for young Malaysian talent to compete in the world championship and on home ground. I think that is key to the Malaysian GP.

"At the same time, it is not just an agreement between Dorna and SIC," he added, "it's the partnership we have and the support we have for each other; the common interest we have to promote this event better and better every year."

LATEST NEWS

more news >

LATEST IMAGES

galleries >

Click to go to the main galleries section

READERS COMMENTS

1. Posted by TokyoAussie, 24/11/2016 3:51

"Lot of factors at play here, but surely the biggest is the implausible cost of staging the event. Venues lose money on the one event of the year they should be making money. And the blame for that can be laid squarely at Bernie's feet. There is simply no way I can justify taking my kid to an F1 race. It's bank loan level money we are talking about. I pay for the TV coverage, and pay for the live timing (when it works), and that is as much as I can justify. The race for the quick buck, instead of building the business slowly and methodically, will come back to bite at some point. Bernie is running out of countries who want to self promote.

And the current governance (FIA) does not help matters either."

Rating: Positive (2) Rate comment: Positive | NegativeReport this comment

2. Posted by Spindoctor, 22/11/2016 21:41

"It appears that The Goose's ability to drop those Golden Eggs is fading, along with enthusiasm for his Product.

Now that his new masters want more races, his dependence on the circuits to run them on will increase. I suspect the well of wealthy despots with cash to splash on F1 vanity projects is drying up, and Bernie's bargaining position with genuine promoters is weakening...
Let's hope so."

Rating: Neutral (0) Rate comment: Positive | NegativeReport this comment

3. Posted by Ro, 22/11/2016 8:59

"Who is next? Australia, Germany, USA, Britain.....its been in decline since the current engine rules were introduced. Its no longer racing, just a demonstration run by the manufacturers. "

Rating: Positive (2) Rate comment: Positive | NegativeReport this comment

4. Posted by EAKLE_510, 22/11/2016 0:41

"Looks like we sucked another country dry. Well, i guess on to the next."

Rating: Positive (3) Rate comment: Positive | NegativeReport this comment

Malaysia will not renew contract

LATEST NEWS

RELATED ARTICLES

LATEST IMAGES

POST A COMMENT

Post your comment

READERS COMMENTS

Share this page