Malaysia will play host to its final Formula One Grand Prix in October after the government and the game’s commercial rights holders stated their agreement would end a year early. The state-of-the-art track has been hosting races since the 1999 season.
“It’s always sad to say goodbye to a member of the Formula 1 family. Over nearly two decades, the Malaysian Formula One fans have proven themselves to be some of the sport’s most passionate supporters,” said Sean Batches, Formula One commercial operations managing director, in a statement.
Malaysia’s Prime Minister Najib Razak revealed that a steep decline in ticket sales, viewership and tourism were the reasons behind the decision to pull out of hosting the race, Reuters reported.
“The Cabinet has agreed to end the contract for hosting the Formula One race... after considering lowering returns to the country compared to the cost of hosting the championships,” Razak said, in a report compiled by Reuters. The race at Sepang circuit is scheduled to take place on October 1.
Competition from other races in Asia has taken a toll on the Malaysian GP. In his statement, Razak also noted that when the race was first held at Sepang International Circuit nearly two decades ago, there was only one other Asian country on the F1 calendar, Japan, reported PTI.
Now, six Asian countries host F1 races, including nearby Singapore, which has one of the most popular races, run at night through the city streets. The end of the Malaysian GP was anticipated since late last year when Malaysia’s sports minister indicated the country might not renew its contract when it expired.
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