The future of F1 in Australia is in doubt after the Victorian state government hinted next year’s event at Melbourne’s Albert Park could be the last.
2015’s mid-March season opener is the final under the current Victorian state government deal. Major event minister Louise Asher refused to commit to a renewed contract ahead of the state election on November 29, despite such deals usually being ironed out years in advance.
“We still have next year’s race to run so the time factor is not pressing at this stage,” Asher said.
“These things, of course, take time and the government is determined to get the very best deal possible for Victoria.’
A 2011 report from audit firm Ernst and Young valued the Albert Park event at producing as much as $33 million in economic benefits for Victoria, creating as many as 411 full-time jobs in the process.
This year’s F1 event at Albert Park drew 100,000 spectators on the official Sunday race day and a further 214,400 fans over the practice and qualifying events.
Australian GP chairman Ron Walker negotiated the F1’s Australian move from Adelaide to Melbourne in the 1990s and has a close relationship with the world championship’s chief Bernie Ecclestone, who is likely on the way out of the top job due to ongoing bribery charges in Germany.
The Canadian government and Tourism Montreal recently reached a comparative deal to renew the city’s F1 commitments for a further 10 years at an estimated $190AU million. F1 in Melbourne is believed to create around $200 million in tourism each year and cost taxpayers between $50-60 million.
Australian Grand Prix Corporation chief executive Andrew Westacott told the Herald Sun newspaper or Thursday, “Discussions are ongoing and it is very much a work in progress”.
Photo: Peter Fox/Getty Images
