US interest in Malta Grand Prix

Alfred A. Farrugia, of Chevy Chase, US, writes:

One of the directors of the company that organises the Grand Prix of Cleveland in Ohio, US, has shown an interest in the promotion of a Malta Grand Prix, and would be interested in exploring the possibility of such an event.

The Grand Prix of Cleveland is held on the shores of Lake Erie at Burke Lakefront Airport. This means that the organisers have no problem promoting an event that is not held on an oval racetrack, and they have been doing this for the past 26 years.

The 27th annual Grand Prix of Cleveland will be held on June 22. This is a Champ Car World Series event similar to Formula One.

Burke Lakefront Airport is an operational airport, and flight activities will be suspended between June 20 and 22, during the Grand Prix and its supporting events. This annual event which puts the Cleveland on the world map generates an annual economic impact of about $30 million to the city.

Given the upgrade of Malta's roads in the past four years, it is possible to find the appropriate venue for Malta's Grand Prix. It is estimated that about $6 million will be needed for such an event, which is not a negligible sum. But if it could generate an economic impact of three times as much, then it would be worth the investment.

As long as the euro remains stronger than the US dollar, it might be possible to find the necessary financial backing.

Tourist attraction

The ripple effect on the tourism sector alone, particularly for the US market, will be enormous.

A few minutes of prime time TV advertising in the US costs more than the initial investment of such an event.

An event of this type will also attract hundreds of motor sport followers from Europe, and it could be the unique event when all Malta's hotel beds will be completely booked for a number of days.

The Malta Grand Prix is not expected to happen tomorrow.

But with the support of a public-private partnership together with the assistance of the local motor sport associations, and the contribution of a number of stakeholders in the commercial and tourist sector, it is a possibility in the near future, maybe in two years time.