Car Racing

Why many countries don’t host the F1 race? (Part 2)

According to Express, the cost to organize the Malaysia Grand Prix race each year is more than 50 million USD. While the revenues – undisclosed – are inversely proportional to the amount the organizers spend.

In addition, F1 with Asian audiences is gradually becoming saturated because there are many races taking place.

Malaysia with the Malaysia Grand Prix stage has withdrawn from F1 since 2017.

Asia usually sees three or more races each year, with China, Singapore and Japan hosting the speed sport. According to Reuters, the reason why Malaysia withdrew from F1 lies in financial problems when the unit supporting for the race is the Petronas Oil and Gas Group.

How much does it cost to organize an F1 race?

The total cost is definitely not cheap. To build a racetrack, the cost of Raconteur is up to 270 million USD. Not to mention the hosting fee. Every year, Malaysia is believed to spend $ 50 million or more to maintain the race. That’s a really huge number for the countries of Southeast Asia.

The Formula Money page has a more detailed list of funding for organizing the race on the street, which requires up to $ 16 million to pay personnel and marketing costs. A race needs 600 employees to operate, not to mention 120 firefighters and 550 volunteers to support.

Building an F1 racetrack will cost about 270 million USD, excluding the cost of hosting each year.

The next amount is to build an auditorium with enough room for tens of thousands of live viewers to about $ 14 million. To secure the 3.2-mile (5.15 km) race track, fences and barriers cost $ 8 million to be set up, while an additional $ 8 million is needed to rent surrounding buildings for pit-stops. repair station).

Vehicles, offices and related utilities cost about US $ 6 million. About US $ 4.5 million for other related expenses, such as cranes and about 350 packages

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