Source: REUTERS / Issei Kato
[Saba Sports News] Recently, the Guangdong
Provincial Development and Reform Commission in China released a plan outlining
key construction projects for Guangdong Province in 2024. Among the proposed
cultural, tourism, and sports projects, there are plans to build an
FIA-certified Level 1 circuit and associated facilities, as well as an
international comprehensive racing sports park surrounding the circuit.
However, many car enthusiasts are skeptical about the construction of an F1
circuit in Guangzhou due to the substantial funding required for the project.
Additionally, concerns have been raised about potential issues such as
underutilization and increased expenses after completion. Some media outlets
have suggested looking at the Shanghai International Circuit as a reference,
which spans an area of 5.3 square kilometers and includes the circuit itself,
commercial and exhibition areas, cultural and entertainment zones, as well as
reserved development areas. Therefore, the planned project in Guangzhou would
need to cover at least 8 square kilometers, equivalent to half the size of Guangzhou
Baiyun National Airport. Given the current circumstances, there is a lack of
contiguous land available in Guangzhou, making land acquisition the only viable
option. However, it is unlikely that the Guangzhou government would allocate
funds for land acquisition. Instead, the project would need to rely on investor
funding, which could amount to tens of billions of dollars. Currently, domestic
developers may not possess the necessary financial capability for such an
endeavor. From the editor’s perspective, F1 racing is considered a high-end
entertainment consumption, and if an F1 circuit were to be constructed in
Guangzhou, it would be imperative for the FIA to allow global pure electric
touring car events and new energy events to stimulate the interests of the
Chinese automotive industry. Without such measures, the project would likely
result in significant financial losses.