TAMPIN: Malaysia will host this year’s Formula One Bahrain Grand Prix at a fraction of the cost, with the multi-million ringgit registration fee waived, says Datuk Seri Anwar Ibrahim.
The Prime Minister said the government would only need to spend an estimated RM16mil on minor upgrades to the Sepang International Circuit ahead of the Oct 2 to 4 race.
“We will organise it without paying the registration fee to the Formula One company. It is free.
“Even if there is some expenditure, it will only be to slightly improve the racing track, which is currently being used for motor vehicles, motorcycles and other activities.
“I estimate that it will cost between RM10mil and RM16mil,” he said during his speech at the Semarak Kenegaraan programme at the Syed Sirajuddin army camp in Gemas here on Monday (July 27).
He said Malaysia had previously spent hundreds of millions of ringgit when hosting Formula One races, with the country’s last Grand Prix held at Sepang in 2017.
Anwar said his initial response when approached about staging the race was to prioritise pressing public concerns, including the cost of living, housing and other welfare issues.
He said discussions were then held with Bahrain to reduce the fee, culminating in it being waived altogether.
Anwar attributed the arrangement partly to the close relationship between His Majesty Sultan Ibrahim, King of Malaysia and Bahrain’s King Hamad bin Isa Al Khalifa.
He said Malaysia was also selected from among dozens of countries because of its peace and stability, efficient administration and strong infrastructure.
“The secret is that this country remains peaceful because of the strength of the Armed Forces, police and all our security agencies.
“Secondly, it is because our administration is efficient,” he said.
Anwar added that Formula One’s leadership had contacted him on Sunday (July 26) and he gave an assurance that Malaysia was capable of managing the event professionally.
The race was expected to draw global attention to Malaysia, with leading drivers, advanced racing cars and thousands of engineers travelling to Sepang, he said.
Formula One and the FIA announced on Sunday that Malaysia would host the Formula 1 Gulf Air Bahrain Grand Prix at Sepang from Oct 2 to 4, placing it between the Azerbaijan and Singapore Grands Prix.
The arrangement between Formula One, the FIA and the Malaysian and Bahraini governments preserves a race that otherwise could not have been held in Bahrain.
The event remains subject to final agreements and official approval by the FIA World Motor Sport Council.
Sepang first joined the F1 calendar in 1999 and hosted the Malaysian Grand Prix until 2017.
