Malaysia might bid farewell to Formula 1

Malaysia is planning to drop its Formula 1 race after the current contract expires in 2018. Officials of the Malaysian Grand Prix have claimed that the race is seeing an attendance drop of 10 percent with every passing year. This year's Malaysian GP only saw 55-60 percent attendance at the Sepang International Circuit.

It is not just attendance at the venue which is dropping, TV viewership of F1 races in the country is also at an all-time low. The falling interest in the sport has forced organizers to think about ditching Formula 1 altogether. The hefty sanctioning fee and other expenses involved in organizing the Grand Prix aren’t being economically viable.

This latest update is an added trouble for Formula 1, which is reported to have lost 200 million global television viewers since 2008. Many believe that the sport is now dominated by only a single team, which has led to a decline in audience interest.

Malaysia is one of the oldest venues of F1 races, having been on the calendar since 1999. The Malaysian GP is also funded by F1's title sponsor - Petronas. Formula 1 was recently acquired by US-based Liberty Media. There are hopes that the new owner might ignite the missing spark in one of the world's longest running motorsport series.

Source: New Straits Times