Malaysia will no longer be organising the Formula One (F1) race after the government agreed to terminate the organising contract starting next year.
Prime Minister Datuk Seri Najib Tun Razak said the contract had to be terminated following sharp decreasing returns to the country compared to the organising cost.
"The decision was made after taking into consideration the reports and views of Sepang International Circuit (SIC) on the financial impact of F1 race on all interested parties.
"The government had to foot very high organising cost every year while the returns from organising the championship were diminishing in terms of spectators, visitors and foreign tourist arrivals in the last few years," he said in a press statement today.
Najib who is also Finance Minister said initially the F1 race had helped to promote the country as a destination of world standard sporting event apart from promoting the country as a destination of choice by global tourists.
"In 1999, only 16 countries hosted the prestigious race including two Asian countries but today, it has risen to 21 countries with six Asian countries, resulting in a fall in returns to the organiser and host country," he said.
Najib said the discontinuation of the race would enable the government to raise funding for the development of talents, infrastructure, transfer of skills and knowledge of motor sports.
He said the government would be utilising the available funds for other races such as MotoGP and and Go-kart; build special circuits in Sungai Petani, Kedah; upgrade facilities in SIC and assist professional drivers to be become F1 drivers.
"The Sepang Circuit will continue to play an important role in the effort to promote Malaysia at international level.
"It will continue to host major motor sports events such as MotoGP and many other national, regional and international races to attract visitors to Malaysia," he said.
Meanwhile, the prime minister said Petronas would continue to sponsor team Mercedes AMG Petronas in F1 as the company's marketing strategy.
He said the government recognised the support provided by Formula One Management (FOM) during the hosting of F1 races in the country in the past 19 years.
"I also wish to express my appreciation to FOM for its understanding and agreement that the 2017 F1 in Sepang will be the last F1 race in the circuit," he said. -- Bernama
Bernama
Fri Apr 07 2017
![Malaysia to quit F1 next year Malaysia to quit F1 next year](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/http://img.astroawani.com/2016-09/41474889393_SIC.jpg)
Najib says the decision was made after taking into consideration the reports and views of Sepang International Circuit (SIC) on the financial impact of F1 race on all interested parties. Filepic
![PRK Nenggiri: Peratusan keluar mengundi indikator, tawan semula atau status quo PRK Nenggiri: Peratusan keluar mengundi indikator, tawan semula atau status quo](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-08/61723697236_CalonPRKNenggiri.jpg)
PRK Nenggiri: Peratusan keluar mengundi indikator, tawan semula atau status quo
Peratusan keluar mengundi akan menjadi antara indikator penting yang menentukan keputusan Pilihan Raya Kecil (PRK) Dewan Undangan Negeri (DUN) Nenggiri Sabtu ini, sama ada Barisan Nasional (BN) berjay
[TERKINI] Banduan Iran ditahan disyaki miliki heroin
Seorang banduan lelaki warga Iran yang sedang menjalani hukuman penjara 30 tahun di Penjara Tapah ditahan pada petang Rabu kerana disyaki memiliki dadah jenis heroin.
!['Keluarga mula sedar kehilangan Nidza Afham selepas dimaklumkan kekasihnya' - Aufahanie 'Keluarga mula sedar kehilangan Nidza Afham selepas dimaklumkan kekasihnya' - Aufahanie](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-08/41723698722_NidzaAfham.jpg)
'Keluarga mula sedar kehilangan Nidza Afham selepas dimaklumkan kekasihnya' - Aufahanie
Aufahanie mendedahkan dia dan ahli keluarga mula sedar tentang kehilangan abangnya, Nidza Afham selepas dimaklumkan oleh kekasih arwah abangnya itu.
[TERKINI] Pembunuhan Cikgu Istiqomah: Polis serahkan kertas siasatan kepada PPN hari ini
Kertas siasatan berhubung kes pembunuhan kejam guru wanita Istiqomah Ahmad Rozi, 33, akan diserahkan kepada Pejabat Pendakwaan Negeri (PPN) hari ini untuk arahan lanjut.
![Polis tahan banduan warga Iran miliki dadah di Penjara Tapah Polis tahan banduan warga Iran miliki dadah di Penjara Tapah](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-08/81723698023_AziziMatAris.jpg)
Polis tahan banduan warga Iran miliki dadah di Penjara Tapah
Seorang banduan warga Iran yang sedang menjalani hukuman di Penjara Tapah didapati memiliki dadah jenis heroin.
![Jangan normalkan remaja bawah umur memandu Jangan normalkan remaja bawah umur memandu](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-08/51723017349_TBbawahumur.jpg)
Jangan normalkan remaja bawah umur memandu
Masyarakat dinasihatkan untuk tidak menormalkan perbuatan memandu kenderaan oleh remaja bawah umur yang berbahaya termasuk boleh mengakibatkan kematian.
AWANI Ringkas: Bukan arahan saya - Fahmi Fadzil
Ikuti rangkuman berita utama yang menjadi tumpuan sepanjang hari di Astro AWANI menerusi AWANI Ringkas.
Wang kertas tertera wajah Raja Charles dilelong RM5.2 juta
Wang kertas tertera wajah pemerintah monarki Britain, Raja Charles III, berjaya dilelong pada harga 914,127 pound Sterling (RM5.2 juta) dalam empat siri lelongan di London baru-baru ini.
Penemuan takungan air, saintis percaya wujud hidupan di Marikh
Jumlah takungan air yang banyak jauh di dalam kerak planet Marikh, menimbulkan semula persoalan dalam kalangan saintis yang percaya tentang kemungkinan wujudnya hidupan di planet merah tersebut.
Mpox atau cacar monyet: WHO isytihar mpox kecemasan kesihatan awam global
Pertubuhan Kesihatan Sedunia (WHO) mengisytiharkan Monkeypox atau Mpox sebagai kecemasan kesihatan awam global, pada Rabu.