PETALING JAYA: Petronas will review its sponsorship of the Malaysia Formula One Grand Prix if the Sepang International Circuit (SIC) decides to pull the plug on the event due to dwindling ticket sales in recent years.
Head of Brand Management Rizan Ismail said the review will only be conducted once a decision on the future of the event has been made by SIC.
“I think that for us (Petronas), obviously what we want to do is listen to what the decision is," said Rizan, when met at the Petronas Talent Development Riders press conference today.
“That is something that SIC and Formula One Management (FOM) have to come to a decision on. The Petronas sponsorship contract is with FOM.
“Once they have made a decision, I am sure we will be informed. We will review it and take it from there. Once it is concrete, we will then decide what is the next step.”
Petronas has been a strong supporter of the race from the moment the series was first held at Sepang in 1999. Despite the recent drop in global oil prices hitting the company hard, Petronas renewed its sponsorship of the event earlier this year.
SIC chief executive officer Datuk Razlan Razali had yesterday said the company is contemplating whether to continue hosting the Petronas Malaysia F1 Grand Prix.