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South Africa’s F1 Grand Prix Bid Deadline Extended to March 18
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The South African Formula 1 Grand Prix bid has received a boost as the Department of Sport, Arts and Culture announced an extension for proposals until March 18. This extension offers interested parties more time to prepare well-structured proposals for the Request for Expression of Interest (RFEOI) for the Formula 1 Grand Prix bid.
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Picture: Desmond Louw / Red Bull Content Pool
Minister Gayton McKenzie highlighted the significance of hosting the event, emphasizing that it could boost South Africa’s economy, tourism, and development. “This extension ensures that bidders have the time to submit exceptional proposals,” McKenzie said.
The Formula 1 Bid Steering Committee (BSC) welcomed the extension and praised the interest surrounding the bid process. BSC Chairperson, Bakang Lethoko, reiterated the importance of presenting a financially viable and sustainable case for South Africa’s return to Formula 1 racing.
While Kyalami Grand Prix Circuit has gained attention, Cape Town Grand Prix SA (CTGPSA) has been proactive in submitting a bid for a street circuit in Cape Town’s Green Point precinct. The company has expressed concerns over fairness, pointing to a perceived advantage given to Kyalami due to early media coverage and the selection panel’s preferences.
CTGPSA also voiced concerns regarding the $10 million deposit required for the bidding process, describing the amount as prohibitive for smaller promoters. Despite these issues, the bid committee remains committed to a fair and transparent process for all involved.
Once the submissions period closes, the BSC will shortlist candidates and move forward with a Request for Proposal (RFP) process. Proposals can be submitted via email to [email protected].
For more details, visit the official RFEOI document at Request-for-Expression-of-Interest-Formula-BID.
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