Hosting F1 won’t come cheap, warns expert
A Formula One expert says the government will need to make a considerable investment if South Africa wants to bring back Formula One to Kyalami in Gauteng.
The motorsport's governing body, the FIA, has been given the green light to upgrade the Johannesburg track to Formula One standards.
The track last hosted an F1 race in 1993.
Expert Hendrik Verwoerd says the FIA's approval was just the first step, and warns that infrastructure changes to the circuit won't come cheap.
" They're talking about investing between five and 10 million dollars. Now that's a huge amount of money if you turn it into rands."
He says that while Sports Minister Gayton McKenzie has expressed his excitement, more government support is needed.
" It's a huge boost for tourism and for other businesses around the event. So it does have a huge economic impact, and the government can do an economic impact assessment. In most cases, it makes a lot of sense for the governments of those various countries to do that.
"The question is whether the government is willing to make that kind of payment and try to convince people that it makes a lot of economic sense."
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