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Australian F1 Grand Prix Gone Beyond 2010?
Formula One supremo Bernie Ecclestone has almost completely dashed any hopes of Melbourne, and quite probably Australia, retaining a Grand Prix in three years time when the current contract ends.
Unless Melbourne held the race at night, the current contract that ends in 2010 will not be renewed says Mr Ecclestone.
Country’s such as Russia and India have been suggested as replacements for the Australian F1 Grand Prix venue.
“Our costs are very high in Australia and we get a lot less money," Mr Ecclestone said.
Ecclestone says that F1 Teams and sponsors no longer want to race in Melbourne. He is chasing more money from TV rights, ticket sales and other aspects of the F1 event in new countries.
“It’s bloody bad for us. We’ve got quite a few places on the list which would like to have Formula One and as it seems your guy (Victorian Premier John Brumby) down there doesn’t want Formula One, we can make him happy," said Ecclestone.
Speaking to radio station 3AW, the Victorian State Premier John Brumby said that Sydney probably wouldn’t get the Grand Prix when Melbourne loses it. “[Mr Ecclestone] … wants to sell his event to the place where he can get the most money. You’ve got a lot of countries around the world now, particularly the Middle East, particularly places like Russia, particularly China, where they are loaded with money.
“They’re loaded with money and they can plug in better to television audiences in Europe and the US," Mr Brumby said.
The Australian F1 Grand Prix has never made money.
In 2007 Australian F1 GP cost $70 million and made just $43.4 million, one of the lowest revenue totals yet and resulting in a net loss of more than $30 million.
“Unfortunately, we would have to consider the financial aspect for a start," added Bernie Ecclestone, all but quashing the chances of Australia retaining an F1 Grand Prix race beyond 2010.
Mr Ecclestone said that Melbourne could retain the race if it was staged at night and has indicated that he won’t budge from this position.
In his response a day later, the Victorian State Premier, Mr Brumby, said: “I make it clear that whatever happens in the future we’re not going to be doing a night event."
