Formula 1 race is being proposed on the same track where Formula E race was held in 2023
Cape Town, the legislative capital of South Africa, is preparing to mount a bid to host Formula 1 Grand Prix race, which could mark the return of the world’s top automobile race event to the country after a gap of over three decades.
According to news reports, the city is preparing the bid for hosting the race on a 5.7 km long circuit that runs around the DHL Stadium at the Green Point Sport Tourism Precinct in the city.
The project is being steered by the Cape Town Grand Prix SA (CTGPSA) which plans to submit a bid to South Africa’s Bid Steering Committee (BSC) for the return of F1 to the country, almost 32 years after the last F1 event was held in South Africa. Earlier, South African Minister of Sports, Arts and Culture Gayton McKenzie had announced the intention to bring back Formula 1 to the country.
According to CTGPSA, the concept aligns with the global appeal of F1 street circuits, with the F1 calendar having street races in Monaco, Singapore, Baku, Las Vegas and Miami.
The bid preparatory committee has already received an official letter from Sports Promotion, Department of Cultural Affairs and Sport to host the F1 Grand Prix Series on a street circuit in Cape Town. The city had hosted a Formula E race at the Green Point Sport Tourism Precinct in 2023.
CTGPSA adds that its collaboration with F1 Circuit Designers & Consultants and the support from local and international partners underlines the value of the intellectual property it has cultivated over the years.
Depiction of proposed race track at Greenpoint in Cape Town
“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 in the Green Point Sport Tourism Precinct in Cape Town, South Africa,” says Igshaan Amlay, CEO, CTGPSA.
“Having seen 2024 culminate on such a positive and hopeful note after a 19-year stakeholder engagement journey, it gives us a renewed resolve to take the next steps in this formal bidding process,” Amlay adds.
Economic boost for Cape Town
According to Amlay, on top of the excitement that F1 fans will bring to the event, there are economic benefits to hosting large events such as F1, that can lead to additional spending, aiding economic growth.
Cape Town’s 2023 Formula E race was estimated to generate over ZAR 1 billion (USD 53 million) in economic impact.
However, CTGPSA is not the sole F1 track under preparation in South Africa will face competition from other tracks as a purpose-built racetrack is currently under construction in Cape Town adjacent to the Fisantekraal airport.
Cape Town will face competition from Johannesburg, with the Kyalami Grand Prix Circuit preparing to meet the requirements for an F1 race. F1 Grand Prix was last held in South Africa at the Kyalami circuit in 1993.
Kyalami is looking to upgrade its facilities to reach FIA Grade 1 accreditation, which is the standard required for hosting an F1 event.