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South Africa in Talks With Six Firms to Raise Funds for F1 Races
The last time South Africa hosted an F1 race was in 1993 at the Kyalami Raceway.
Photographer: Steve Etherington/Empics/Getty ImagesSouth Africa’s government is in talks with at least six companies to secure funding needed to entice Formula 1 Grand Prix racing back to the country, according to people with knowledge of the matter.
Sports, Arts and Culture Minister Gayton McKenzie asked the firms to pledge a total of $100 million to help fund the races for three years, said the people who asked not to be identified because the talks are private.