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The Bite Point: The future of the Australian Grand Prix
Every year during the Australian Grand Prix weekend there is widespread speculation about the future of the event at Albert Park. Local political opposition to the Grand Prix grows as the cost of hosting the race steadily increases. There is a Formula One contract in place for Albert Park until 2015 but the future of the Australian Grand Prix beyond that is uncertain. Since the first race in Melbourne the annual fee paid to Formula One Management has grown from $8million to $25million. Simultaneously, the revenue generated by the Australian Grand Prix Corporation has been gradually falling resulting in a larger net loss to the Government. Although there are many economic advantages to...
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14y ago from EnterF1.com
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