KUALA LUMPUR (Aug 21): Malaysia has no plans to bring back the Formula 1 (F1) Grand Prix due to the high hosting fees and facility costs, said Youth and Sports Minister Hannah Yeoh.

She said reviving the race would require the government to spend about RM300 million annually on hosting rights alone, paid to Liberty Media, the commercial rights holder of F1. Typically, Malaysia would need to commit to a three- to five-year contract, amounting to around RM1.5 billion in hosting fees over the period.

“While Formula 1 is a prestigious sporting event followed worldwide, it remains a ‘good to have’ and not a necessity for Malaysia at this point,” Yeoh told Parliament during the oral question-and-answer session on Thursday.

Beyond hosting rights, she said, the Sepang International Circuit (SIC) also requires about RM10 million annually to maintain its FIA Grade 1 track homologation and safety standards.

Yeoh added that while the government is not considering a comeback, it has not shut the door entirely.

“If corporate sponsors are interested in covering the hosting fees, SIC is open for further discussions,” she said.

SIC chief executive officer Azhan Shafriman Hanif recently told an English daily that he believes it was a mistake for Malaysia to stop hosting F1 races. Shafriman said there's strong interest from the government and corporate sector to bring F1 back to Sepang, and he believes it can be successful if managed properly.

Malaysia first hosted F1 in 1999, becoming the first Southeast Asian nation to hold the race. It remained on the calendar for 19 years before bowing out in 2017, as rising costs and declining ticket sales made it unsustainable.

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