SIC: Ending F1 contract will have legal implications

f1

KUALA LUMPUR: Malaysia may face legal implications if the Formula One (F1) is scrapped before the contract expires, says Sepang International Circuit (SIC) chief executive officer Razlan Razali.

In denying claims that Malaysia would scrap hosting the F1 race, he said SIC had a contract with the organisers of F1 until 2018 and therefore it could not be terminated easily.

“It will involve legal issues if the SIC breach the contract which was signed last year and runs through 2018. SIC will review the host’s job when the contract expires in 2018 but the race will certainly be held next year,” he told Bernama today.

Local media reports claimed that the Malaysian F1 Grand Prix at the SIC may be scrapped.

Malaysia has been hosting the F1 since 1999.

Meanwhile, Malaysian F1 Grand Prix main sponsor, Petronas was also expected to review their sponsorship pledge with the SIC and Formula One Management (FOM) with regard to Malaysia hosting the F1.

Petronas Group Strategic Communications Senior General Manager Rizan Ismail said Petronas had not received any information about the scrapping of the event from either the FOM or SIC.

“Well for us, obviously we will listen to the decision. Petronas’s contract is with the FOM, so that is something SIC and FOM have to come up with. Once we have come to a decision, I’m sure we will inform the relevant parties, review it and take further action,” he told reporters at the Petronas Talent Development Programme in Petaling Jaya, today.