Minister of Sport Gayton Mckenzie introduces the SA F1 Bid Steering Committee

The committee is made up of 13 industry leaders, and will be chaired by Bakang Lothoko.

Speaking to SABC Sport, Mckenzie still maintains that his would be a failure in his tenure if F1 does not come to South Africa, and believes they have selected the right professionals to steer the ship.

"The second day when I was appointed minister, I said that my term will be a failure if I do not bring F1 to South Africa. I can tell you I'm the most excited person here today, I'm just trying to control it because there's so many cameras facing me but I'm very excited F1 is definitely coming,” McKenzie said.

“We have now taken the biggest step required which is to look at the bits, who's ready to host and we've taken professional people to look at those bits and to come back and say these are really the bits that will bring F1 back to South Africa.

“The bits will comply with all the F1 regulations, not with Gayton McKenzie's or the government of National Unity regulation. That's what the committee is gonna look at, they know what F1 wants and they're gonna make sure that they give F1 what they want."

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Mckenzie further unpack the selection process of the 13 member committee which will be led by a female chairperson.

"What we've done is that people will always feel that you should have taken that person or that person or that person, I said to my in the office, let's look at all the correspondence we got as far as F1 is concerned,” the minister added.

“Let's look at all the correspondence we got as South Africa is concerned, which people have given us ideas for South Africa and we then come to realise that we've got so many patriots in this country.

“Let's look at people in broadcasting that want F1 to happen. All those names, all those people, we then decided we wanna see women, we wanna see all races there, we wanna see people with a history of motorsport, we wanna see people with a history of tourism.

“We wanna see a history of people that love the country. We wanna people with legal back grounds, we want people with finance backgrounds. We made a whole mix and that's why I'm so proud of this thing because there's all races, and women are represented. It's even being led by a woman, so womandla."