Melbourne's Lord Mayor Robert Doyle and Premier Ted Baillieu have cast doubt on the future of Melbourne's Australian Grand Prix.
Commenting in the Sunday Herald Sun, Mr Doyle said the annual event at Albert Park, contracted to host the race through 2015, is no longer value for money.
"My judgment would be: get ready. Time's up," he wrote.
And Victoria's new Premier Ted Baillieu said that the $50 million per year taxpayer's bill for the race will need to be reduced.
"The Grand Prix has been great for Melbourne and great for Victoria but we look forward to (it) performing financially better than it has and we will be looking to make sure that happens," he said.
Audi Not Ruling Out F1 Foray
Audi has not ruled out entering Formula One, its motor sport chief has admitted.
Amid rumours parent brand Volkswagen is interested in F1's new engine formula for 2013, Wolgang Ullrich told the regional Donau Kurier newspaper that Audi is happy in DTM and Le Mans sports car racing.
"Nevertheless, Audi regularly assesses the situation in Formula One," he said.
But he acknowledged that F1 is not Audi's first priority.
"From an image point of view, Audi already comes out high in consideration of 'sportiness' and 'sporting success'," Ullrich said.
And he believes that Audi's slogan 'Vorsprung durch Technik' (progress through technology) has not been compatible with F1 for "the past 15 years".