The group that submitted an application to host Formula 1 in the Western Cape with a budget of R6.7 billion has acquired 600 hectares of land near Kalbaskraal in the Swartland region for the construction of a new race track.
Blue Mountain Racing (BMR) plans to host the Formula 1 Grand Prix by 2031, and this track will be part of a larger development of the Swartland area. However, South Africa has not yet been awarded any Formula 1 races.
Consortium asserts that the project will be financed by private funds
The consortium states that the entire project will be fully funded by private investment, although the government may still provide support if the Western Cape is granted the right to host the race. BMR member Bob Hartsliff noted that this support could relate to customs clearance, traffic control, and security.
Hartsliff emphasized that they do not want taxpayers to bear political financial risks. However, he added that they will require assistance from all levels of government in matters such as security, traffic control, and customs clearance.
The plans were presented in the Swartland this week, attended by the current Premier of the Western Cape, Tertius Simmers, MEC Anton Bredell, and Swartland Mayor Harold Cleophas. BMR has submitted its application to Formula 1, and the evaluation process may take between twelve and fifteen months.
Reasons for rejecting the city circuit in Cape Town
The decision to build in the Swartland also means that the prospect of hosting Formula 1 races on the streets of Cape Town has ended, at least for this application. BMR Chairman Neil Froneman stated that a city circuit would cause concern among residents and entail significant public expenditure.
Instead, the consortium prefers to create a purpose-built track outside the city, while utilizing Cape Town's airport, hospitality industry, and tourism sector to support the event. Approximately R2 billion of the projected R6.7 billion investment will go towards building the track itself.
The remaining part of the development will include event venues, conference centers, entertainment areas, and residential properties. The proposed venue can accommodate about 125,000 spectators. BMR also forecasts the creation of thousands of jobs if the project is realized, and plans to hire and train 700 to 1,000 pit crew assistants, including people from communities around Malmesbury, Abbotsdale, and Kalbaskraal.
It is important to note that the Western Cape's application does not guarantee a spot on the Formula 1 calendar. Furthermore, Kli va is also seeking the return of Formula 1 to Gauteng. South Africa last hosted a Formula 1 Grand Prix in Kyalami in 1993.