South Africa is the latest country to express an interest in hosting a Formula One Grand Prix. The country is aiming to host a street race through Cape Town from 2013.
Despite initial enthusiasm for the plan, the final decision has yet to be made and the financials for the F1 project will be one of the key considerations. “The benefits of F1 look very compelling however we need to look at the cost of hosting another big sports event and if it is in the developmental interests of the city,” Mansoor Mohamed, executive director of economic social development and tourism for the City of Cape Town, told Reuters.
If a race was held in South Africa, it would be for the first time in nearly two decades – the last Formula One race in the country was held at Kyalami in 1993 and was won by Alain Prost.
Initial costings show that it would cost around 1 billion rand ($142 million) to host the race. The proposed circuit would take cars through 5.7 km of Cape Town’s streets via the trendy Green Point suburb and with the spectacular backdrop of Table Mountain. The track would also make use of the Cape Town Stadium which was initially built for the World Cup.
A final decision is expected to be made in the next 6 to 12 months.