Publications
Partners
MELBOURNE - The Australian Formula 1 GP will stay in Melbourne's Albert Park precinct as long as the state of Victoria continues to stage the race, state government officials have announced.
The announcement scotches recent reports that the race could be moved outside Melbourne to a purpose-built track in a place called Avalon.
The government's major events minister, Louise Asher, said moving the race from Albert Park to a dedicated track would cost $318m, according to the Australian GP Corporation organisers.
"The Grand Prix is going to stay at Albert Park," she told a parliamentary budget hearing. "One of the reasons the branding of Melbourne has been so successful is that the GP is at Albert Park."
"WE WILL PLAY HARDBALL"
Asher said the new conservative state coalition would push F1 boss Bernie Ecclestone hard when negotiations for a new contract began in late 2013 or early 2014.
"When we come to negotiate we will play hardball," she warned.
Asher said the current contract, signed by the previous Labour state government and due to expire in 2015, was not delivering the best deal for Victoria's taxpayers. It was not a contract a coalition government would have signed.
"The contract that the previous government signed is an expensive contract," she said. "I think taxpayers could get a better deal if the contract had less in it for my good friend Mr Ecclestone and more in it for Victorian taxpayers."
Asher said she would release the cost to the state's taxpayers from this year's race in the next few months.
Last year the state poured a record $51m into the Australian GP.
The announcement scotches recent reports that the race could be moved outside Melbourne to a purpose-built track in a place called Avalon.
The government's major events minister, Louise Asher, said moving the race from Albert Park to a dedicated track would cost $318m, according to the Australian GP Corporation organisers.
"The Grand Prix is going to stay at Albert Park," she told a parliamentary budget hearing. "One of the reasons the branding of Melbourne has been so successful is that the GP is at Albert Park."
"WE WILL PLAY HARDBALL"
Asher said the new conservative state coalition would push F1 boss Bernie Ecclestone hard when negotiations for a new contract began in late 2013 or early 2014.
"When we come to negotiate we will play hardball," she warned.
Asher said the current contract, signed by the previous Labour state government and due to expire in 2015, was not delivering the best deal for Victoria's taxpayers. It was not a contract a coalition government would have signed.
"The contract that the previous government signed is an expensive contract," she said. "I think taxpayers could get a better deal if the contract had less in it for my good friend Mr Ecclestone and more in it for Victorian taxpayers."
Asher said she would release the cost to the state's taxpayers from this year's race in the next few months.
Last year the state poured a record $51m into the Australian GP.