Ticket prices for Formula 1 race at Sepang in October to be determined by Bahrain government, says SIC CEO

Ticket prices for the Formula 1 Gulf Air Bahrain Grand Prix in Malaysia, which is set to take place in October this year, will be determined by the Bahrain government, reports The Star. This was revealed by Sepang International Circuit (SIC) CEO Azhan Shafriman Hanif, who added that SIC is currently negotiating with Bahrain to secure more affordable ticket prices for Malaysians, although the final decision rests with Bahrain.

“All the ticket sales revenue will go back to Bahrain, so we don’t have the absolute power to determine certain things,” Azhan said at a media session at Sepang today (July 28). “I will try my best to negotiate for a special price, maybe a MyKad price for Malaysians, but the final decision is with Bahrain because they are paying the rights fee,” he added. Petronas had earlier said it is not managing ticket sales for the event.

Azhan also clarified that while Bahrain is paying the Formula 1 hosting rights fee, SIC will share operational costs with Bahrain, including track preparation and event staging. “We are looking at a ballpark figure of about RM40 million to be shared between SIC and Bahrain,” he said.

The overall cost, if Malaysia were to organise the event itself, is expected to be in the realm of around RM300 million. “Looking at the total picture, we have to look at the spillover effect. From reports of countries that host Formula 1, they can get more than three times the value. This means Malaysia has the potential to gain more than RM1 billion in economic impact,” said Azhan.

Ticket prices for Formula 1 race at Sepang in October to be determined by Bahrain government, says SIC CEO

On the circuit’s readiness, Azhan said Formula 1 representatives had conducted an initial inspection and found no major issues preventing it from hosting the race. While no resurfacing is required, several upgrades, including improvements to run-off areas and infrastructure, would need to be completed ahead of the event. With just a little over two months before “it’s lights out,” preparations are being carried out around the clock to meet Formula 1 requirements.

Azhan also expects the race to generate significantly greater economic benefits compared to past Malaysian Grand Prix thanks to the motorsport’s rapid global growth under Liberty Media ownership. “In the past, we had to work hard to sell tickets. Today, Formula 1 has built a huge global fan base and created a fear of missing out,” he said. Since the announcement, we’ve received enquiries on sponsorships, festivals and commercial activities. It’s a good problem to have,” he said.

Even so, SIC is not considering any long-term return of Formula 1 to Malaysia at this time, as its current focus is solely on successfully delivering the one-off event in October. “We’ll focus on delivering this event first. If we gain the confidence of all stakeholders and produce something special, then perhaps we can look at the future,” Azhan explained.