TEMPO.CO, Jakarta - Malaysia will no longer host Formula One (F1) Grand Prix races once its contract ends in 2018, Malaysian Tourism Minister Mohamed Nazri Abdul Aziz said on Monday, November 21, 2016.
"[From the] longer term perspective, it's probably the correct decision because it's more expensive and no longer that attractive," the minister told reporters according an audio recording heard by Reuters.
Malaysia's decision is based on declining ticket sales and TV viewership figures.
Formula One Chief Executive Bernie Ecclestone's on Sunday told German magazine Auto Motor und Sport that Malaysia's neighbor Singapore will also no longer host F1 Grand Prix after their contract expires on 2017.
The Malaysian Grand Prix was last held in October, when Australian driver Daniel Ricciardo got his first win of the season.
Malaysian state oil and gas firm Petronas is the main sponsor for F1 races in Kuala Lumpur. The company's finances have been hit hard due to recent tumbles in oil prices.
ANTARA
