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Cape Town Grand Prix 'frustrated' with F1 bidding flaws
The Kyalami Grand Prix circuit is about to undergo a metamorphosis as it gears up to become FIA Grade 1 compliant. Image: F1 While the news of Kyalami Grand Prix circuit getting the thumbs up for its upgrade delighted many, including the minister of the Department of Sport, Arts and Culture, the F1 bid steering committee had to clarify that they are still evaluating the bids received, and not all have been happy with the process. Kyalami circuit owner Toby Venter on Wednesday said between $5 and $10 million will be spent over the next three years to ensure that the circuit is the only Formula 1-compliant track on the continent. Grade 1 status is the highest international standard required by the Fédération Internationale de l'Automobile (FIA) to host Formula 1. Kyalami's Grade 1 plans were approved by the FIA, meaning they were given the green light to upgrade their track to the highest possible standards in motorsport. The 4.5km surface holds a Grade 2 licence. It is estimated that the upgrades will cost between R100 million and R180m. On the back of the announcement, the F1 Bid Steering Committee (BSC) said they have noted recent announcements and called the development 'encouraging' and said it 'bodes well for the country's bid to host a Formula 1 race in future'. 'Whilst the committee believes this is positive news for South Africa and motorsport in our country, it wishes to clarify that the above announcement and development is entirely independent from the work of the committee. 'The committee remains seized with the evaluation and adjudication of proposals received for the staging and promotion of an F1 Race in South Africa,' they said. 'In the near future, the committee will make an announcement on the outcomes of this process along with the preferred promoter for the country.' Kyalami Grand Prix Circuit has received confirmation that the FIA has accepted final design proposals to upgrade the circuit to Grade 1 status. Image: Supplied When asked if this means that Cape Town's bid is not being considered, all that BSC spokesperson Prince Mlimandlela Ndamase said: 'The committee is finalising its report to the minister and should have it submitted in the next week. The report will provide an outcome on the process undertaken and the three bids received.' One of the three bids came from Cape Town Grand Prix, where CEO Igshaan Amlay has expressed his frustration and concern with the process, stating that he had already been notified two weeks ago that his bid was unsuccessful. 'They lied to the media, because Cape Town Grand Prix sees this whole process as a flawed process, because firstly, nowhere in South Africa in the new democracy, has there been a request that you have to pay R10 million rand to bid to bring an event to the country.' Amlay was referring to the R10 million referenced in the Request for Expression of Interest ('RFEOI') document, which states that 'Interested parties/potential promoters will be required to make payment of a refundable deposit into the Sec. 86(4) trust account of attorneys appointed by and representing the BSC, to the value of R10 million". Amlay said: 'When we asked them what the R10 million is for, they said it's refundable, but they couldn't tell us when you're getting it back.' Get your news on the go, click here to join the Cape Argus News WhatsApp channel. Cape Argus
IOL News
16 hours ago
- Automotive
- IOL News
While Kyalami Grand Prix circuit news gets cheers, the SA F1 committee is still evaluating bids
Kyalami Grand Prix Circuit has received confirmation that the FIA has accepted final design proposals to upgrade the circuit to Grade 1 status. Image: Supplied While the news of Kyalami Grand Prix circuit getting the thumbs up for its upgrade delighted many, including the minister of the Department of Sport, Arts and Culture, the F1 bid steering committee had to clarify that they are still evaluating the bids received, and not all have been happy with the process. On Wednesday, Kyalami circuit owner Toby Venter said between $5 and $10 million will be spent over the next three years to ensure that the circuit is the only Formula 1-compliant track on the continent. Grade 1 status is the highest international standard required by the Fédération Internationale de l'Automobile (FIA) to host Formula 1. Kyalami's Grade 1 plans were approved by the FIA, meaning they were given the green light to upgrade their track to the highest possible standards in motorsport. The 4.5km surface holds a Grade 2 licence. It is estimated that the upgrades will cost between R100 million and R180m. 'When we acquired Kyalami in 2014, we made a commitment to restore it, not just as a world-class venue, but as a beacon for motorsport across the African continent. The FIA's acceptance of our Grade 1 design is a major step forward in that journey,' Venter said on Wednesday. On the back of the announcement, the F1 Bid Steering Committee (BSC) said that they have noted recent announcements and called the development 'encouraging' and said it 'bodes well for the country's bid to host a Formula 1 race in future'. 'Whilst the committee believes this is positive news for South Africa and motorsport in our country, it wishes to clarify that the above announcement and development is entirely independent from the work of the committee. 'The committee remains seized with the evaluation and adjudication of proposals received for the staging and promotion of an F1 Race in South Africa,' they said. 'In the near future, the committee will make an announcement on the outcomes of this process along with the preferred promoter for the country.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. 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Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Minister of the Department of Sport, Arts and Culture, Gayton McKenzie, on Friday, posted that a few months ago he informed the owner of Kyalami race track that 'government wouldn't be in a position to assist financially with renovations at the track'. 'He gave me his word that his group would pay for it and see the whole process through. I salute you, Tobie Venter.' When asked if this means that Cape Town's bid is not being considered, all that BSC spokesperson Prince Mlimandlela Ndamase said on Sunday was: 'The committee is finalising its report to the minister and should have it submitted in the next week. 'The report will provide an outcome on the process undertaken and the three bids received.' One of the three bids came from Cape Town Grand Prix, where CEO Igshaan Amlay has expressed his frustration and concern with the process, stating that he had already been notified two weeks ago that his bid was unsuccessful. 'They lied to the media, because Cape Town Grand Prix, sees this whole process as a flawed process, because firstly, nowhere in South Africa in the new democracy, has there been a request that you have to pay R10 million rand to bid to bring an event to the country.' Amlay was referring to the R10 million referenced in the Request for Expression of Interest ('RFEOI') document, which states that 'Interested parties/potential promoters will be required to make payment of a refundable deposit into the Sec. 86(4) trust account of attorneys appointed by and representing the BSC, to the value of R10 million. 'In the event that an interested party is unsuccessful in the EOI stage and is not selected to move forward into the closed RFP process, the deposit will be refunded with relevant interest accrued.' Amlay said: 'When we asked them what the R10 million is for, they said it's refundable, but they couldn't tell us when you're getting it back.' He said that they went back to them with a promissory note, but they were informed that the money had to be delivered in cash, and that they couldn't accept a promissory note.
