South Africa is reportedly seeking sponsors to bring Formula 1 racing back to the country. The South African Minister of Sport, Gayton McKenzie, is said to be in talks with Red Bull and Heineken to raise the necessary funds for a bid. The African nation is believed to need around forty million from potential sponsors.
South Africa is one of the countries hoping to host a Grand Prix in the future, but reportedly struggles to raise the necessary capital. On average, it costs a country more than 25 million to organize a Grand Prix. PlanetF1 reports that South Africa needs around forty million euros from potential sponsors.
Last Wednesday, it was announced that the African country has extended the deadline for interested parties. According to IOL, South Africa is now in talks with several sponsors, including Heineken and Red Bull, to raise the capital needed to make a bid to Formula 1.
“Hosting a Formula 1 Grand Prix would boost our economy, tourism, and development and position South Africa as a global top sports destination,” the country’s Minister of Sport, Gayton McKenzie, told PlanetF1. McKenzie assures that the extension of the deadline is not a sign of lack of interest in a South African Grand Prix. “It is clear that people want to invest in this.”
Fighting Tooth and Nail
In addition, the minister sees an excellent opportunity to put South Africa back on the Formula 1 calendar as early as 2027. “We have also received promising news that Holland will not be returning, so perhaps we will get that slot in 2027,” says McKenzie. “I tell you that if I do not bring Formula 1 to South Africa, I have failed as Minister of Sport. Formula 1 will return, fighting tooth and nail.”
