The Ministry of Youth and Sports (Kementerian Belia dan Sukan/KBS) informed that organizing F1 (Formula One) is four times more expensive than MotoGP (World Motorcycle Championship). In fact, MotoGP is cheaper than Formula E too.
Its minister, Hannah Yeoh, said the expenditure was RM53.2 million for the organization of MotoGP, while F1 required a capital of around RM228 million. For Formula E (Formula Electric), the cost is estimated at around RM120 million.
“Although everyone says organising this is good, organising that is good, we have to look at affordability and people’s interest in the sport.
“Why MotoGP? As I said, 182,000 visitors will come and the Sepang International Circuit needs this MotoGP event,” she said.
Hannah said this during the closing session of the debate on the KBS Supplementary Supply Bill 2023 in the Dewan Rakyat, today.
Hannah added, there are parties trying to organize F1 without the government’s knowledge even though they bid and got the right.
“After bidding, they came to see us and said we have received the bid and want money to organize (F1). So it is not fair for the government if there is a party that bids without getting approval,” he said.
NOTE FROM THE AUTHOR: So does the government bear all the expenses of organizing MotoGP? Often not because there are corporate companies that will sponsor the event. For example, Shell hosted the Shell Malaysia MotoGP from 2022 to 2023, and Petronas will take over as the main sponsor from this year. There are also other sponsors apart from the main sponsors. However, they did not disclose the amount of money they sponsored.
