The future of the Australian Grand Prix at Albert Park looks more secure as local officials confirmed it would remain there for the foreseeable future.
There has been much speculation recently that the event could be dropped or relocated to Avalon, however the cost to do so would have been in the region of £200 million.
Louise Asher, major events minister for the Melbourne region, confirmed the news, adding that the race was part of the reason why Melbourne has become so successful.
“The grand prix is going to stay at Albert Park,” Asher said during a govenment meeting. “One of the reasons the branding of Melbourne has been so successful is that the grand prix is at Albert Park.”
Whilst they’re keen to keep the race past 2015, when their current contract expires, they warned that tough negotiations would take place with rights’ holder Bernie Ecclestone.
“When we come to negotiate we will play hardball,” added Asher. “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.
“I would love nothing more to have the grand prix stay on a contract that was fabulous value for taxpayers – the issue is whether I can deliver that.”
