KUALA LUMPUR – Malaysia will host the Formula One (F1) in 2019 after organizing contract expires in 2018. Culture and Tourism Minister, Datuk Seri Mohamed Nazri Abdul Aziz said the decision was taken due to the government’s need to spend up to RM300 million for organizing the returns received disproportionate.
He said that in recent years the number of F1 fans declining attendance and the matter is not only experienced in Malaysia but also all over the world.
Clearly, the government has just renewed the contract of hosting F1 for two years from 2016 to 2018 at a cost of RM1 billion and thereafter no longer the organization of motor sport in this country.
“Expensive is, our money flow out of the country a lot of very, very expensive.
“Every year we have a loss of RM300 million, in terms of organization we spend about RM300 million besides, money Grand Prix victory was no better calling Chinese tourists come,” he said when met at the Parliament lobby here today.
Mohamed Nazri added, what is more pathetic no country joined the F1 racer and he thought it was the right decision to stop it.
Source : Internet