F1 considers letting Vietnam replace Malaysia to host a race

Formula One racing officials are said to have arrived in Vietnam to look into the possibility of holding a race in Ho Chi Minh City.

According to The Sun (UK),F1 bossChase Careywant to replace the Malaysia GP with a race in another country in the Asia-Pacific region. Among them, Vietnam is the leading candidate.

F1 race may appear in Vietnam. Photo: Yong Teck Lim.

In April, F1 Chief Commercial Officer Sean Bratches announced that the Malaysian GP would close after the end of the 2018 season, ending Sepang’s 19-year run as an F1 race. Apathy from Malaysian fans and the high costs incurred, while the revenue was not enough to cover the costs, were the reasons for the closure.

Negotiations for Vietnam to host a new F1 race are in their early stages, but a number of sponsors have backed the initiative.

In a post on the F1 homepage in September 2016, the Global Brand Director of a famous beer company did not hide his intention to help Vietnamese fans witness the F1 race firsthand.

When asked about the possibility of opening another race, he affirmed: "It's simple, it's Vietnam. Many of our partners are excited to hear that F1 can appear in Vietnam. So why can't an F1 race be held in Ho Chi Minh City?"

New F1 chairman Carey backs Vietnam to host a race.

One of the key issues is the cost. Malaysia had to close its Sepang circuit because of heavy losses, with just 45,000 spectators attending last year’s race, despite its maximum capacity of 120,000. It costs the country $67 million a year to host a race. Vietnam, however, could be cheaper, and an F1 official has said there are more than 200 commercial partners ready to help.

In February 2016, a professional rally racing track was inaugurated in Long An, although it did not meet the standards to host an F1 race. In 2010, a project to build a $150 million racetrack in Nha Trang appeared, but was not approved by the government.

Last year, when he was about to resign, former chairman Bernie Ecclestone ruled out the possibility of choosing Vietnam.

According to VNE