1 Comment
Australian F1 Grand Prix Future In Limbo Again: Report Photo:
2014_f1_australian_f1_gp_melbourne_12 Photo: tmr
2014_f1_australian_f1_gp_melbourne_00a Photo: tmr
2014_f1_australian_f1_gp_melbourne_00f Photo: tmr
2014_f1_australian_f1_gp_melbourne_17 Photo: tmr
2014_f1_australian_f1_gp_melbourne_00e Photo: tmr
2014_f1_australian_f1_gp_melbourne_16 Photo: tmr
2014_f1_australian_f1_gp_melbourne_07b Photo: tmr
2014_f1_australian_f1_gp_melbourne_14 Photo: tmr
2014_f1_australian_f1_gp_melbourne_00c Photo: tmr
2014_f1_australian_f1_gp_melbourne_04 Photo: tmr
2014_f1_australian_f1_gp_melbourne_21 Photo: tmr
2014_f1_australian_f1_gp_melbourne_10 Photo: tmr
2014_f1_australian_f1_gp_melbourne_13 Photo: tmr
2014_f1_australian_f1_gp_melbourne_01 Photo: tmr
2014_f1_australian_f1_gp_melbourne_00d Photo: tmr
2014_f1_australian_f1_gp_melbourne_20 Photo: tmr
2014_f1_australian_f1_gp_melbourne_12b Photo: tmr
2014_f1_australian_f1_gp_melbourne_03 Photo: tmr
2014_f1_australian_f1_gp_melbourne_09 Photo: tmr
 
 
Trevor Collett | Jul, 10 2014 | 1 Comment

The future of the Australian Formula 1 Grand Prix is reportedly in doubt once again, as Victoria’s state government delays the signing of a new deal beyond 2015.

With Victoria’s state election around four months away, News Corp reports that Victorians may go to the polls before a new deal has been signed; if a new deal is signed at all.

It is unclear at this stage whether the current state government in Victoria will commit the additional funds required to stage the event beyond 2015, which is understood to be several million dollars.

The government risks offending the race's supporters in not signing a renewed contract. But there is also a significant block who believe the cost to taxpayers has become excessive and signing a new agreement could come with political risks for a government facing a knife-edge poll.

In an election year, Premier Dennis Napthine's Liberal/National coalition could find itself in a ‘no-win’ situation, and may choose a ‘damage control’ approach by holding off on a new deal until after November - if re-elected.

“We still have next year’s race to run so the time factor is not pressing at this stage,” Victoria’s Major Events Minister, Louise Asher, said.

“These things, of course, take time and the government is determined to get the very best deal possible for Victoria.’’

Aside from offending race fans and those who believe the race benefits Victoria, the state government is risking up to $33 million in economic benefits, according to a 2011 Ernst & Young report.

The same report also estimates the race creates the equivalent of between 351 and 411 full-time jobs, which would be lost if the event is discontinued beyond 2015.

News Corp also reports that the 2015 Australian F1 Grand Prix is scheduled for March 12-15, during a weekend that sees no Cricket World Cup matches (which Australia is hosting) in Melbourne.

MORE: F1 news, Victoria news

 
TMR Comments
1 Comments

Finance Calculator

Repayment is : $

Latest Comments
 
The size of your tyre is located on the sidewall of your tyre.
It will be similar to the sample below.