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Melbourne set to extend Grand Prix contract

The Australian Grand Prix is poised to remain in Melbourne beyond 2015, when its current contract is due to expire.Negotiations for a new deal began last August when Victorian Tourism Minister Louise Asher gave Australian Grand Prix Corporation chairman Ron Walker the green light to commence discussions with Bernie Ecclestone.Speaking with the Herald Sun Ecclestone all but assured Melbourne of a race in future, claiming that a new contract 'will happen'.Key among the requirements during renegotiation was what Asher described as 'good value for money', or put more simply, a lower hosting fee. Though Australia is far from the top paying grand prix host by 2015 it is expected it will pay...
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