The news that Malaysian motor racing fans have been fearing has finally been confirmed.
This year’s Malaysian Grand Prix, once a major tourism draw, will be the last.
Announcing the news, Prime Minister Najib Razak said rising costs and declining attendance has made the event unsustainable.
The F1 race which is held at the Sepang race circuit near Kuala Lumpur, will end a year earlier than expected.
"The Cabinet has agreed to end the Formula One Grand Prix effective 2018, in view of the low returns compared to the cost of hosting the race," the PM said in a statement.
Razlan Razali, chief executive of Sepang International Circuit said TV audience figures have also sharply declined since the height of its popularity in the early 2000s.
Last year it attracted only 44,000 on race day, compared to around 80,000 a decade ago.
"Unfortunately in the last few years, we’ve seen a dramatic decline in terms of TV audiences and spectators," Razali said.
"It’s always sad to say goodbye to a member of the Formula One family," said Sean Bratches, F1 managing director of commercial operations.
"Over nearly two decades, the Malaysian Formula One fans have proven themselves to be some of the sport’s most passionate supporters."
