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Malaysia could drop Formula 1 race

Andreas Rentz/Bongarts/Getty Images

Officials at the Malaysian Grand Prix are considering dropping their Formula One race when the current contract expires in 2018.

The race has seen a decline in attendances in recent years, with the New Straits Times reporting a drop of 10 percent year on year. This year's race only saw a 55-60 percent capacity crowd and the organisers are no longer sure the race is worth its hefty sanctioning fee.

"Maybe it will do Malaysia good to take a break," Sepang International Circuit's chief executive officer Datuk Ahmad Razlan Ahmad Razali was quoted by the New Straits Times. "I think the product is no longer exciting. It's being dominated by one team."

The report said a decision would be taken on Thursday this week by track officials and Malaysia's ministry of finance.

Malaysia has been on the F1 calendar since 1999 and has benefitted from funding from title sponsor Petronas. This year it was moved from the start of the calendar towards the end and was held just two weeks after the Singapore Grand Prix, which also reported a decline in attendance this season.