JEDDAH: The boss of the Saudi Arabian Grand Prix has dismissed international media reports that preparations for next month’s inaugural Formula 1 race in the Kingdom are behind schedule.

Chief executive officer, Martin Whitaker, was confident the country would be ready to host the sporting spectacular and said: “Saudi Arabia is well prepared, and the race is in good hands.”

Speaking at the launch of the Saudi Motorsport Co., a new and dedicated commercial entity established to bring the Kingdom’s motorsport events under a single umbrella, he told Arab News: “What has been achieved is remarkable and we are in pretty good shape to be honest.

“In terms of the race, Formula 1 and the FIA (the sport’s governing body) run the technical and regulation side. Our side, we make sure to make VIPs, fans, guests, and sponsors happy with so many activities and entertainments and also provide them with best facilities in the world.

“All these things are exciting developments, and we are on the top of it. If you think about it, we started to build this circuit on May 1, and what has been achieved since then is an extraordinary job,” he added.

On the aim of the new Saudi Motorsport Co., Whitaker said: “Previously, motorsports in the Kingdom used to be run by SAMF (the Saudi Automobile and Motorcycle Federation) or private companies, now as we are reaching a new era in sports, we want to make sure to spin off the commercial and operational side of motorsports in Saudi Arabia to our own Saudi company.”

The CEO pointed out that the initiative would help to establish new local and international events while at the same time promoting Saudi teams, engineers, mechanics, and female and male drivers.

He noted that one of the primary aims would be to develop young Saudi talent.

“As a British person, when I leave the country, I want to see an ambitious young Saudi take my place to run this business, and this is what Saudi Arabia’s Vision 2030 is all about. I am here to help to bring such young Saudis,” Whitaker said.

Also speaking at the company launch, Prince Khalid bin Sultan Al-Abdullah Al-Faisal, the SAMF chairman, welcomed the establishment of the Saudi Motorsport Co.

He said: “The growth of motorsport in Saudi Arabia is one of the great success stories of our nation’s recent history. We can now confidently call ourselves a major home to the biggest series in motorsport including F1, Formula E, the Dakar Rally, and Extreme E and have proven time and again how capable our people are at delivering world-class events on a global scale.

“To this end, it is essential that we focus our efforts on taking advantage of this incredible opportunity for the Kingdom via the establishment of the Saudi Motorsport Co., to help focus our efforts on the consolidation and expansion of motorsports in the country and to maximize the many opportunities hosting these major events offer the people of Saudi Arabia.

“This is only the beginning, and I can’t wait to see what more is to come in the future,” the prince added.

The announcement came as the number of motorsports events in the Kingdom reached unprecedented levels of growth.

December will see the arrival of Formula 1 in the country for the first time in its history when the Formula 1 STC Saudi Arabian Grand Prix 2021 makes its much-anticipated debut at the new Jeddah Corniche Circuit – set to become the longest and fastest street circuit in the world – on the weekend of Dec. 3 to 5.

The arrival of the pinnacle of motorsport follows the successful hosting of other major series over the past few years, including the Formula E Diriyah ePrix (since 2018), the world-renowned Dakar Rally (since 2020), and a ground-breaking round of the revolutionary Extreme E series – the Desert X Prix – staged for the first time earlier this year.

The rise of motorsport in Saudi Arabia has already delivered widespread benefits. For example, the first two editions of the Dakar Rally contributed to the creation of 11,841 jobs (3,606 of which were Saudis), while the broadcast of the event reached 2.2 billion households across 190 territories and secured up to 350 million digital impressions, showcasing the huge direct and indirect economic and cultural impact hosting such major events could have for the host nation.

Up until recently, the SAMF had played a leading role in driving these successes. Now, the establishment of a dedicated commercial entity, the Saudi Motorsport Co., to act as the local promoter for the Kingdom’s growing motorsports event portfolio, will allow the federation to focus on its role of growing and regulating motorsports nationally and in alignment with the FIA.

The consolidation of all current and future motorsport events and series under the Saudi Motorsport Co. banner will bring many benefits, including the improvement of operational efficiencies, savings on production costs, allowing the sharing of staff across events, as well as commercial benefits such as the bundling of rights, and optimizing commercial revenues across a structured national motorsport events calendar.