The Malaysian Grand Prix could become a thing of the past after the Sepang International Circuit’s contract with Formula One expires in 2018. The event attendance figures have declined in the recent years and the event organizers are no longer sure that the event is worth having.
The Sepang International Circuit’s shareholders and the ministry of finance will be holding a meeting this week to decide the future of the Malaysian Grand Prix and whether it will continue past 2018. The Sepang International Circuit is the only venue within the country fit to host a Formula One Grand Prix, so the Malaysian Grand Prix will drop off of the calendar if the event is not hosted at the circuit.
The Malaysian Grand Prix first appeared on the Formula One schedule in 1999 and has been held at the same circuit ever since. The circuit’s CEO has cited a decreasing interest in Formula One, specifically the domination of Mercedes, as the reason for ditching the event. Various reports suggest that the television viewership for the 2016 Malaysian Grand Prix was the lowest in the event’s history and venue was reportedly only at 60% capacity for this year’s race. In contrast, the MotoGP race at the venue has forecast a sell-out.
Khairy Jamaluddin, Malaysia’s minister of youth and sports, has also suggested that the country should shift its focus from Formula One to MotoGP. He has stated that the cost to host the event is too high and there is not enough return generated from the event:
I think we should stop hosting the F1. At least for a while. Cost too high, returns limited. https://t.co/1XQxuS2CO5
— Khairy Jamaluddin (@Khairykj) October 24, 2016
He has also suggested that other Asian Formula One events like Singapore and China have reduced the attendance of the event and that they have caused the novelty of the event to fade. He has suggested that the country focus on MotoGP because it is cheaper, has more fans and there are national drivers in the other Moto series.
The fate of the event is not yet confirmed and the event organizers will have a bit of time to make up their mind, as their current contract with the sport guarantees a 2017 and 2018 Malaysian Grand Prix.
