The Formula One race in Malaysia is to be replaced by the MotoGP race in the near future. The latest event of Formula One at the Sepang International Circuit (SIC) in the last weekend was supposed to be the last one from the popular international cars.
The major reason for the discontinuation of the premier international race is the increasing overall cost of executing the race and more importantly, the recent decline in popularity of the race, which led to the lesser attendance of spectators. The SIC has now decided to replace it with a MotoGP race to be held next year in the South East Asian country.
The SIC chief, Razlan Razali believes that F1 was a great product previously, but recently it has seen a decline in the popularity of the product. However, the cost to stage a MotoGP race in the country is comparatively lower, which brings more profit to the organization.
The total expense to host a Formula One race in the country is very high, which is around $75 million annually, while the expense to stage a MotoGP motorcycle event is just $10 million. The additional advantage of the motorcycle event is the cheaper ticket price, which will attract more spectators to the ground for sure.
The MotoGP series has grown in popularity in the South East Asian country, managing a rise in the audience from 65,000 in the year 1999 to a massive 161,553 footfall last year. Comparatively, the number of spectators for the Formula One race in the country fell to 83,828 last year from its peak gathering of 126,690 in 2008. However, the final race of F1 brought 110,000 spectators with the discounted ticket price.
The popularity of the motorcycle among the people in the South-Eastern country has resulted in this outcome. The people are getting inclined towards two-wheelers in the country and the replacement is going to be equally appreciated by the spectators, followed by the increase in their numbers.
The Malaysian Prime Minister has made it clear that it may consider the Formula One event in the near future, which means the popular event has not ended its day completely in the country.