Malaysian F1 Contract Extended to 2015
Friday, August 24 2007, Sepang – Malaysia’s contract to host the prestigious Formula One Grand Prix has been extended to 2015, the Motorsports Commission of Malaysia (MCM) announced today.
In a two-paragraph statement, chairman Datuk Azman Yahya said MCM, which negotiated the new contract for the Government, was pleased in announcing the extension of the agreement. The current contract expires in 2010.
“It is pleasing to note that the Government has reaffirmed its commitment to Formula One, this will not only provide long term benefits to tourism, it will also help us in expanding the already substantial motor sport industry in line with the Government’s objective of turning Malaysia into a regional hub for motorsports,” Azman read the statement at a press conference flanked by SIC chairman Datuk Mokhzani Mahathir at Sepang Circuit today.
Azman said the contract was actually signed in July and that the signatories for the new agreement were between FOM and Khazanah Holdings, through its new subsidiary Pantai Morib Ventures Sdn Bhd.
Under the new contract, Mokhzani said, SIC is committed to hold the race at night ‘at any time upon notification’ of the FOM, which is the worldwide rights holder for the Formula One World Championship series.
Responding to questions, Mokhzani said that SIC has yet to make any decision on installation of the lighting system for organization of night races, but stressed at any system would need the approval of the FIA and the Department of Civil Aviation (DCA), which run the Kuala Lumpur International Airport.
“FIA has not told us about the specifications for the night race. They have engaged a company, which would be conducting a test in Paul Ricard Circuit (in France) in September. Whatever system to be installed at Sepang would require the approval of FIA and DCA,” he said.
Declining to speculate on the costs in installation of the lighting system, Mokhzani said the circuit was unable to do so because it had yet to receive any specifications from the FIA of what needed to be necessary power supply to run the race at night in Sepang.
