Tun Mahathir urges Malaysia to host F1 again

Former prime minister Tun Dr Mahathir Mohamad said on a recent podcast that Malaysia should regain the right to host a Formula 1 Grand Prix, citing the reduced purchasing power of the ringgit and the potential economic boost from the sport.

Mahathir’s case for a new race.

During the August 13 episode of the DR. M podcast, Mahathir argued that a fee of RM100 million today is comparable to the RM50 million the country paid a decade ago. “If I were in government, we would consider having our own race here again even if it costs us RM100 million,” he said.

The former leader recalled his earlier push to bring Formula 1 to Malaysia in 1999, describing the event as a “deliberate strategy to boost national tourism and promote economic growth.” He noted that the Sepang International Circuit (SIC) was chosen because of its proximity to the Kuala Lumpur International Airport and the availability of unused land that could host large‑scale attractions.

Mahathir emphasized that the aim was never limited to ticket sales. He pointed out that a typical Grand Prix draws over 100,000 spectators who spend on hotels, dining and other services, generating a sizable inflow of foreign cash. The race also serves as global advertising, with millions watching the event worldwide.

Financial backdrop and recent statements

When Malaysia first hosted the race, the annual hosting fee was RM50 million, largely underwritten by Petronas, the national oil company, which acted as title sponsor for 19 years.

After Formula 1 was sold to Liberty Media in 2016, the fee rose to RM100 million, a cost the government deemed unsustainable at the time, leading to the event’s removal from the calendar after 2017.

Sepang International Circuit chief executive Azhan Shafriman Hanif recently warned that securing a permanent slot on the Formula 1 calendar would require at least RM300 million each year. Mahathur’s comments arrive as the circuit prepares to host the Gulf Air Bahrain Grand Prix from October 2‑4, marking the first Formula 1‑related event on Malaysian soil since the 2017 Malaysian Grand Prix.

In the podcast, Mahathur claimed that the SIC has already recouped its construction costs through other events, allowing the venue to be used “free of cost” for a potential Formula 1 race. He suggested that the current financial climate makes the RM100 million fee less daunting than it appeared a decade earlier.

The proposal sparked debate.

While Mahathur’s remarks reflect personal enthusiasm, the broader financial picture remains complex. The required annual outlay, as outlined by the circuit’s CEO, would still represent a significant budget item for the government, even if the relative value of the ringgit has shifted.

Mahathur concluded by reiterating his support for bringing the sport back, stating, “At this time, we have recouped the investment of building SIC. We have earned enough money from hosting events at the SIC to pay for the cost of building the track, so we are using the track free of cost.”