Youth and sports minister Hannah Yeoh said the F1 championships required the government to pay F1 owner Liberty Media Corp some RM300 million a year.

“The contract to organise the races lasts three to five years, which would see us committing RM1.5 billion for the period,” she said to Oscar Ling (PH-Sibu), who had asked if the country would host F1 races again.

She added, however, that this did not mean Malaysia was closing the door on the matter.

“If the corporate sector is keen to bear the costs, interested parties can contact the Sepang International Circuit (SIC) to discuss the matter further,” she said.

In April 2023, Yeoh said it would be “quite impossible” for Malaysia to host F1 races because of the high costs this would incur.

Malaysia first hosted the F1 Grand Prix in 1999. The last race in Malaysia was in 2017, as Putrajaya decided not to renew its hosting rights due to a decline in returns.

On Sunday, SIC CEO Azhan Shafriman Hanif said it was a mistake for Malaysia to give up its F1 hosting rights.

He said it would be a tall order now to host the F1 race in Sepang as there was a long waiting list for a place on the motorsport event’s calendar.