KUALA LUMPUR, Oct 15 — The Sports and Youth Ministry is set to present its assessment on whether or not Malaysia should resume hosting the Formula 1 Grand Prix to the Cabinet next month, its minister Mohd Taufiq Johari told Parliament this morning.
The ministry was mandated to lead an inter-ministerial F1 assessment committee formed to evaluate the projected costs and return on investment for the country, the minister revealed, following revived interest to resume hosting the grand prix after the overwhelming turnout at the race in Sepang.
“Recently the Ministry of Youth and Sports was mandated to join an F1 assessment committee involving all ministries as well as the Chief Secretary to the Government,” Taufiq said during Question Time.
“So, we want to evaluate the projected costs and the expected return on investment (ROI) for the country, ensuring that hosting the event is not managed solely under the Ministry of Youth and Sports through the Sepang International Circuit.”
The announcement comes on the heels of Sepang International Circuit’s (SIC) successful hosting of the rescheduled Bahrain Grand Prix earlier this month, marking F1’s first return to Malaysia in nine years.
The event saw record-breaking ticket sales, reigniting public debate and political interest in bringing back a permanent spot on the F1 calendar.
Malaysia hosted the Malaysian Grand Prix from 1999 until 2017, when the government pulled out due to rising hosting fees and declining ticket returns. Industry reports estimate the cost of hosting exceeds RM300 million annually.
FIA officials have signaled that the door remains open for Sepang, provided a viable five-year business plan is presented.
Addressing concerns about hosting fees, Taufiq stressed that any decision must have “shared benefits” across multiple sectors, including tourism, retail, and hospitality.
“That is why an assessment of our readiness and related factors is currently underway. By November, we will produce a report to be presented to the Cabinet, and ultimately, the Cabinet will decide whether or not we will bring Formula 1 back to our country,” he said.