- Australian Grand Prix
Albert Park will not lose race
- Albert Park
Victoria state officials have said that the Australian Grand Prix will remain at Albert Park as long as the race continues to be held in the state.
In the build-up to this year's race, there was much speculation about the future of the grand prix due to the cost of hosting the race in Melbourne each year, with organisers looking in to the possibility of creating a purpose-built facility in nearby Avalon. That option has now been dismissed, however, with the cost of moving the race being estimated at £200 million.
The government's major events minister Louise Asher told a parliamentary budget hearing that the venue would remain the same, but said she would be seeking to reduce the cost to the state when the race's contract comes up for renewal.
"The Grand Prix is going to stay at Albert Park," she said. "One of the reasons the branding of Melbourne has been so successful is that the Grand Prix is at Albert Park.
When we come to negotiate we will play hardball. The contract that the previous government signed is an expensive contract. 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."