Melbourne extends Aussie GP deal

Sunday 3rd August 2014

Share:

Melbourne extends Aussie GP deal

Melbourne extends Aussie GP deal

The Albert Park circuit will continue to host the Australian GP until 2020 after the Victorian government signed a new deal.

Next season is the last on Australia's current contract and there had been speculation over whether a new deal would be on the cards due to finances.

However, after agreeing a deal that would reduce the taxpayer subsidy, State Premier Denis Napthine announced on Sunday that Melbourne would continue to host the Australian GP through to 2020.

"This is a terrific announcement that reaffirms Melbourne and Victoria as the sporting and events capital of the world," he told 3AW radio station.

"We've secured another five-year deal for the grand prix and we've secured a great deal for the people of Victoria that's a better deal than the existing deal."

He added: "The new deal is on the same terms as the existing contract in that it will be the first race of the season, it will be in March each year."

Napthine also revealed that Melbourne almost lost the grand prix to a rival Australian city.

"There is enormous competition to have Grands Prix as major events around the world," he said.

"I can tell you there was a small city just up the road in another state that was very keen to get the Grand Prix."

Meanwhile, F1 supremo Bernie Ecclestone has welcomed the new deal.

"I congratulate Melbourne for the excellent way in which it presents Formula One to the world," he said.

Turn Up The Lights, It's Race Day

Editor's Picks

10 Reasons For Three-Car Teams

10 Reasons For Three-Car Teams

What's not to like about three-car teams? Bernie's suggestion has been dismissed by the purists, but it would tighten up the racing...

Winners & Losers: Singapore

Winners & Losers: Singapore

Lewis may have beaten Nico by 33 centimetres on Saturday, but on Sunday he finished 47 laps down the road...

Getting To Know Marchionne

Getting To Know Marchionne

Ferrari fans needn't be worried about Sergio Marchionne - he comes with a pedigree of turning round businesses...

Highlights Of Luca's Tenure

Highlights Of Luca's Tenure

Luca di Montezemolo is Ferrari through and through, from spending time as Enzo Ferrari's assistant to assuming control in 1991...

Tin Foil Hats At The Ready

Tin Foil Hats At The Ready

Twice this season Lewis Hamilton has accused Nico Rosberg of deliberately making a mistake. Was Monza number three?