Which way for MotoGP?
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Which way for MotoGP?

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It is music to the ears as Prime Minister Paetongtarn Shinawatra vows that she will put politics aside and think business in deciding whether to renew a contract to host the MotoGP.

The motorcycle race has been held at Chang International Circuit in Buri Ram since 2018.

The northeastern province is known as the political bastion of the Bhumjaithai Party, and Newin Chidchob is an executive of the circuit.

It is an open secret that Mr Newin -- a former sidekick of her father, Thaksin Shinawatra -- is now considered an enemy of the Pheu Thai Party.

Indeed, last week, Mr Newin stirred up a rumour that the government would not renew the MotoGP and would pursue an expensive licence to host Formula 1 instead.

Mr Newin brought the circuit to his hometown in 2018 after the Prayut government agreed to subsidise 300 million baht, or 25% of the total 1.2 billion baht annual licence fee, for six years.

With increased attendance and sponsors, the MotoGP at the circuit has become popular among locals and tourists.

Sports Authority of Thailand governor Kongsak Yodmani said that MotoGP boosted tourism, created 7,000 jobs and generated 5 billion baht for the economy.

As the country wants to promote sports tourism and man-made venues, it is only hoped that Ms Paetongtarn will make rational decisions based on the investment return and the event's impact on the economy, tourism, and sports.

The government will have many questions to answer if it decides not to renew the MotoGP contract.

While MotoGP's financial benefits are not hard to judge, the Pheu Thai government must carefully decide whether to buy the license to run the Formula 1 race in Thailand.

Currently, the economic feasibility study commissioned by SAT on hosting Formula 1 locally will be completed by the latter part of this year.

Indeed, hosting Formula 1 has always been a dream of Thai governments, with locations such as Bangkok (with a track out the front of the Royal Palace and along Ratchadamnoen Road) and Pattaya in Chon Buri.

The idea became more serious last year when former premier Srettha Thavisin visited Italy and brought potential sponsors, such as executives from PTT, to meet Formula 1 executives.

F1 is the pinnacle of motorsport that will generate revenue with media rights, sponsorships, and ticket sales; however, the tournament is not guaranteed to be a moneymaker.

The 2013 Indian Grand Prix lost US$24 million (811.5 million baht), while the South Koreans held the event four times -- from 2010 to 2013 -- and lost money, with the last event being US$37 million in the red.

Malaysia, the first country to bring the event to the region in 1999, decided to scrap hosting F1 in 2017.

Their venue struggled to fill the 120,000-seat grandstands, and the Malaysian government had to spend $67 million yearly to keep it running.

However, F1 is a financial success in Singapore, where they hold night races on the streets and offer accompanying concerts and other entertainment activities.

That said, the Paetongtarn government must make careful decisions in order to bring feasible events to the country.

The government, as Ms Paetongtarn implied, must, of course, put the country first and politics later to achieve that.

Editorial

Bangkok Post editorial column

These editorials represent Bangkok Post thoughts about current issues and situations.

Email : anchaleek@bangkokpost.co.th

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