Things are not looking too good for the Sepang International Circuit.
First, interest in Formula One among Malaysians are dropping. Then, ticket sales have been steadily declining for the past couple of years.
Thus, SIC’s chief executive officer Datuk Ahmad Razlan Ahmad Razali told The New Straits Times that they will decide on Thursday whether to pull the plug on hosting the Malaysian Formula One Grand Prix.
Despite having an agreement with the license holders to hold F1 races in Malaysia until 2018, Ahmad said a special meeting will be held with the Ministry of Finance — SIC’s major stakeholder — to discuss about the future of the sporting event.
According to Ahmad Razlan, ticket sales have been on the decline since 2014, with sales reportedly going down consistently by 10 per cent each year.
In fact, the recent Formula One race in Malaysia only managed to move between 55 and 60 per cent of the tickets, and TV viewership in Malaysia was reportedly the “lowest in history”.
This, said Ahmad Razlan, is a huge contrast to the Moto GP, where tickets are sold out and 90,000 people are expected to attend the event this weekend.
Ahmad Razlan told the daily that a temporary withdrawal from F1 could be beneficial for the country.
“Maybe it will do Malaysia good to take a break.
“I think the product (F1) is no longer exciting. It’s being dominated by one team,” he was quoted as saying.
