The possibility of a new location for the Australian grand prix is being investigated, according to reports in the Melbourne local paper, the Herald Sun.
The current Albert Park venue made headlines this week when it was reported to have made an annual loss of over £40 million ($50m), prompting reports that it should be dropped to save the state money.
An alternative and permanent site outside of the city would provide considerable savings to Melbourne taxpayers whilst providing better transport links.
The State Government, the Confederation of Australian Motor Sport and Calder Park owner, Bob Jane, has signed a deal to investigate options for a track that would meet the approval of the FIA, allowing it to run several FIA sanctioned events, including Formula One.
It’s reported that members of the FIA will visit the proposed site to assess how it could hold such events.
Mr Jane told the Herald Sun that renovating the Calder Park circuit would provide the government with options if they decided not to renew the current contract which expires in 2012.
“We [Calder Park] have got a permit from the old days in the 1980s to run the Formula One here,” he said.
“I know they are happy at Albert Park. But in the future there has to be options, and at the moment there are none.”
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