Cape Town could host a Formula 1 (F1) race, with a route around the DHL Stadium in Greenpoint planned.
The Cape Town Grand Prix SA (CTGPSA) plans to submit a bid to South Africa’s Bid Steering Committee (BSC) for the return of F1 to the country.
Minister of Sports, Arts and Culture, Gayton McKenzie previously announced the intention to bring back Formula 1 to the country,
CTGPSA has proposed an F1 street race in the Green Point Sport Tourism Precinct in Cape Town, with a 5.7km street circuit around the DHL Stadium.
It added that the concept aligns with the global appeal of F1 street circuits, with the F1 calendar having street races in Monaco, Singapore, Baku, Las Vegas and Miami.
The group previously received an official letter from Sports Promotion, Department of Cultural Affairs and Sport, Mr TD Tutu, to host the F1 Grand Prix Series on a street circuit in Cape Town.
It then built on this success by securing an official letter from the Western Cape government’s Provincial Minister of Cultural Affairs and Sport, Ms Anroux Marais, to host a Formula E race on the same circuit.
The Formula E race took place at the Green Point Sport Tourism Precinct in 2023.
CTGPSA added that its collaboration with F1 Circuit Designers & Consultants and the support from local and international partners underlines the value of the intellectual property we’ve cultivated over the years.
In a letter to CTGPSA CEO, Igshaan Amlay, Mckenzie acknowledged the interest in holding an F1 Grand Prix in Cape Town and said that a thorough review process will take place.
“Having seen 2024 culminate on such a positive and hopeful note after a 19-year stakeholder engagement journey, gives us a renewed resolve to take the next steps in this formal bidding process,” said Amlay.
“With the continued support from our local and international supporters and F1 enthusiasts, we are ready to bring an F1 street race to our spectacularly located circuit in the Green Point Sport Tourism Precinct in Cape Town, South Africa.”
Economic boost
On top of the excitement that F1 fans will bring to the event, there are economic benefits to hosting large events.
NWU economics professor Waldo Krugell previously said that major events, such as F1, can lead to additional spending, aiding economic growth.
In his example, Krugell noted how Taylor Swift’s concerts in Singapore were set to increase the island’s GDP growth from 2.5% to 2.9% in the first quarter of 2024.
Cape Town’s 2023 Formula E race was estimated to generate over R1 billion in economic impact.
CTGPSA will face competition from other tracks, with McKenzie previously revealing that a purpose-built racetrack is currently under construction in Cape Town adjacent to the Fisantekraal airport.
Cape Town will face competition from Johannesburg, with the Kyalami Grand Prix Circuit preparing to meet the requirements for an F1 race.
F1 last held a race in South Africa at the Kyalami circuit in 1993.
McKenzie said that Kyalami is set to upgrade its facilities to reach FIA Grade 1 accreditation, which is the standard required for hosting an F1 event.
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