Cape Town bids to host F1 race
Cape Town has emerged as a contender to host a Formula 1 Grand Prix, with a proposed street circuit around the DHL Stadium in Green Point. Cape Town Grand Prix SA (CTGPSA) has confirmed its bid submission to South Africa’s Bid Steering Committee (BSC), aiming to bring F1 back to the country after a three-decade absence.
The proposed 5.7km street circuit aligns with the growing global trend of city-based F1 races, mirroring successful events in Monaco, Singapore, and Miami. CTGPSA highlighted this trend, emphasising the international appeal of such venues. The group already has experience hosting motorsport events in the Green Point Sport Tourism Precinct, having successfully organised a Formula E race in 2023. This previous experience, along with collaboration with F1 Circuit Designers & Consultants, strengthens their bid.
CTGPSA CEO Igshaan Amlay expressed optimism, stating, "With the continued support from our local and international supporters and F1 enthusiasts, we are ready to bring an F1 street race to our spectacularly located circuit." While Minister of Sports, Arts and Culture, Gayton McKenzie, acknowledged the bid, he emphasised a thorough review process.
The potential economic impact of an F1 race in Cape Town is significant. The 2023 Formula E race generated an estimated R1 billion, demonstrating the potential for tourism revenue and broader economic benefits. However, Cape Town faces competition from other venues, including a purpose-built track under construction near Fisantekraal airport and the historic Kyalami Grand Prix Circuit near Johannesburg, which is undergoing upgrades to meet FIA Grade 1 accreditation. The last F1 race held in South Africa was at Kyalami in 1993.
Source: BusinessTech