23 May 2024
Melbourne officials flag F1 exit after 2015
Aus GP is no longer value for money
Two influential officials have cast doubt on the future of Melbourne’s Australian grand prix.
First, the city’s Lord Mayor Robert Doyle said the annual event at Albert Park, contracted to host the race through 2015, is no longer value for money.
"My judgment would be: get ready. Time’s up," he wrote in the Sunday Herald Sun newspaper.
And the state of Victoria’s new premier Ted Baillieu admitted that the $50 million per year taxpayer’s bill for the race will need to be reduced.
"The grand prix has been great for Melbourne and great for Victoria but we look forward to (it) performing financially better than it has and we will be looking to make sure that happens," he said.
Search
Formula 1 news
23 May 2024
F1 in talks to raise Monaco’s annual race fee
23 May 2024
F1 not ruling out new race deal for Barcelona
23 May 2024
Sainz ’has chosen Audi’ for 2025 and beyond
23 May 2024