CYBERJAYA: Jazeman Jaafar needs the financial help from the private sector to realise his Formula One dream.
On Tuesday, Youth and Sports Minister Khairy Jamaluddin admitted that his ministry could not bear the full financial cost of supporting Jazeman’s drive in F1.
The 22-year-old Jazeman has been offered a race seat with one of the Mercedes-powered teams in next season’s F1. To secure the seat, Jazeman needs an annual budget of RM63mil and that’s simply too much for the Sports Ministry.
“Jazeman and his father have met me a few times and they have disclosed the cost needed to become an F1 driver,” said Khairy.
“It costs millions of ringgit and I’m trying to think of a way to help him. Honestly, we can’t afford to sponsor him on our own.
“Petronas has also invested a lot in Jazeman. But with the global oil prices dropping, Petronas is tied up as well.
“He’ll need support from the private sector. F1 is a money game and with the current economic situation, many companies are already not putting that much money in sports.
“But we are still committed to helping him. Just give us time to find a way to achieve a solution,” added Khairy.
If he gets his breakthrough, Jazeman, who turns 23 on Nov 13, will only be the second Malaysian after Alex Yoong (2001-2002) to race in F1.
Jazeman, who came through the Petronas Talent Development programme, competed in the British Formula Three Championship in 2010. He finished second in the overall championship in 2012.
He continued to progress by moving to the Formula Renault World Series in 2013.
This season, he has three podium finishes at the halfway mark of the championship, including his maiden victory in Monaco in May.
Keyword: Malaysian racer Jazeman needs corporate sponsors for F1 drive