SEPANG — Bahrain will fully bear the Formula One (F1) rights fees of US$70 million (RM298 million) to US$80 million for the Gulf Air Bahrain Grand Prix in Malaysia, according to SIC.

SIC chief executive officer Azhan Shafriman Hanif said this arrangement was agreed through cooperation between SIC and the Bahrain International Circuit (BIC).

“I can confirm that they will be paid by Bahrain,” he said at a press conference at SIC here today.

However, Azhan Shafriman said Malaysia still needs to share the cost of local preparations of around RM40 million to ensure the circuit meets Formula One specifications.

He said SIC is currently in discussions with BIC on various operational aspects, including circuit preparations, technical requirements and the allocation of hosting costs.