THERE was a misunderstanding regarding the possible return of the Formula One (F1) races to the country, said Youth and Sports Minister Syed Saddiq Syed Abdul Rahman.

He said the government was now focusing on motorsports, as it had generated a lot of income for the country, unlike F1.

“I think there was a misunderstanding. Tun (Dr Mahathir Mohamad) said it (F1) is not generating income right now, and the cost (to have the races) is too high,” he told reporters in a press conference in Parliament today.

Syed Saddiq said the government spent up to US$70 million (RM285 million) yearly to bear the cost of the races.

He was responding to reports last night that said the prime minister did not discount the possibility of the races returning to the country.

Syed Saddiq also said the government wanted not only to produce drivers, but also engineers and software developers for the motorsports industry.

“That is why, according to the presentation yesterday, Sepang International Circuit (SIC) and KBS (Youth and Sports Ministry) will cooperate to transform SIC and Sepang as a motorsports hub and city.

“It will have a lot more development and job creation. This was a decision made by the cabinet.”

Yesterday, Dr Mahathir said F1 races may return, when asked if the installation of the floodlights throughout the SIC was a sign that SIC would again host the prestigious races.

Dr Mahathir, however, pointed out that the floodlights may not meet night-race requirements. – August 2, 2018.