F1 track seeking calendar return after critical 'mistake'

The CEO of the Sepang International Circuit (SIC) has admitted it was a mistake for Malaysia to stop hosting F1 races.

The Asian track made its first appearance on the schedule as a world championship race in 1999 and quickly became a hit due to its layout and the unpredictable weather that surrounded the event.

However, following the conclusion of the 2017 event, F1 has not returned to the Sepang track.

With the sport undergoing a significant boost in popularity since its exit, the circuit's CEO Azhan Shafriman Hanif has asserted it was a wrong choice.

“We do not want to repeat the mistakes of the past,” he told the New Straits Times. 

“We let F1 go and now it is very hard to get it back. I hope we don’t make the same mistake with MotoGP.”

SIC is currently looking at bringing its race back to the schedule, however it is wary of the high costs involved as well as competing with other interested nations.

“There is a waiting list to get back in and of course, the costs are very expensive. We were quoted $70 million race fees. That is for each event.

“That does not include our setup costs which are in the region of RM10 to RM20m ($2.3m to $4.7m) for each event.

“In total, it would cost us more than RM300m ($71m) to bring back the race.

“A lot of people are queuing so it won’t be easy. But if we are really serious about it, then maybe we can start the conversation.”

The track has already received the approval of the Malaysian government to pursue a return to the calendar.

"It is not just SIC that wants Formula One. Many other stakeholders from both the government as well as the corporate sector also want it back," said Shafriman.

"We have to look at how Singapore is hosting it. They have everyone on board in making it a success, from the ministries to the corporate sector to the hotels. Everybody contributes.

"It has to be like that if we bring it back here."