Sepang Circuit's rental rates surge: 45% Increase Starting April 2024

KUALA LUMPUR: Big news from the Sepang International Circuit (SIC) – they've just announced a 45% hike in track rental rates starting April 1st. It's a pretty hefty jump, and here's the breakdown:

On weekdays, renting the track for a day is now going to set you back RM70,000, up 27% from the previous RM55,000. And for those weekend speedsters, it’s a jump from RM60,500 to a cool RM80,000, which is a 32% increase.

Night sessions aren't spared either. During the weekdays, the rate’s shooting up from RM55,000 to RM78,000 – that's 41%. And for weekend nights? Hold onto your helmets, because it’s leaping from RM60,500 to RM88,000, a 45% hike.

As a consolation, the price tag includes all the essentials – technical and medical staff, ambulances, fire trucks, janitors, security, and access to related facilities. So, you're getting the full package.

Azhan Shafriman Hanif,  Chief Executive Officer at SIC, says this price bump is all about keeping the circuit, a Grade One FIA track, operating at top-notch standards. "We're committed to maintaining the highest standards in our facilities and services, and that’s why we're adjusting our rental and facility prices, effective April 1, 2024. We're giving everyone a heads-up for transparency and to give our customers and stakeholders enough time to prepare," he explained.

Last January, Shafriman mentioned that this increase was inevitable due to rising operation and maintenance costs, but they decided to hold off until this year.

And just so you know, SIC hasn't raised its rental prices since 2013. So, while it might seem like a sudden jump, it's been a long time coming.

This is the first big update since Petronas inked of a three-year naming rights partnership with the Malaysian International circuit. 

As quoted by Malaymail, Azhan Shafriman Hanif said "this development shall open doors to new opportunities to host more world class events at our world class venue for Petronas as one of the industry leaders in motorsports through its engagements in Formula 1 and MotoGP".

The last time the Sepang International Circuit hosted a Formula 1 race was in 2017. The Malaysian Grand Prix that year was the final race in the country's contract with Formula 1.

The decision to stop hosting the race was largely due to financial considerations. The Malaysian government, which played a significant role in funding the event, decided to discontinue it because of the high costs involved in hosting the race and declining ticket sales and viewership. Additionally, there was a desire to allocate resources to other areas that were deemed more beneficial for the country's development.

With Petronas, a Title and Technical Partner of the Mercedes-AMG PETRONAS Formula One Team, in the picture, could we witness the thrilling return of Formula 1 to Malaysia? Every motorsport enthusiast in the country, ourselves included, is keeping fingers crossed for this exciting possibility. Let's hope for the best!

Also Read: Toyota Gazoo Racing Malaysia wins the Sepang 1000KM endurance race

Picture Credit: SIC Facebook