After news erupted last week that Singapore would no longer be hosting F1 races, Malaysia is following suit. This was confirmed by the Malaysian Tourism and Culture Minister Nazri Abdul Aziz on Monday who said 2018 would be the last year Malaysia will be hosting the F1 race.
“(From the) longer term perspective, it’s probably the correct decision because it’s more expensive and no longer that attractive,” the minister added.
It is said that Malaysia spends RM300 million annually to host the F1 race and was unable to get back a good return from the race. The decline in sales and also the TV viewership are some of the main factors that contributed to the decision of not extending the contract with Formula One once it ends in 2018.
Earlier this week, Formula One supremo Bernie Ecclestone expressed his concern for this sport in Southeast Asia after Singapore decided not to host the Grand Prix any longer.