Exclusive: Victoria has secured the rights to the Australian Grand Prix for two more years, ensuring the race will celebrate its 40th anniversary in Melbourne | Chip Le Grand
Victoria has secured the rights to the Australian Grand Prix for a further two years, ensuring the race will celebrate its 40th anniversary in Melbourne.
Under the original 10-year deal announced by the Andrews government and the Australian Grand Prix Corporation in June, Formula 1 agreed for the 2024 and 2025 Australian Grand Prix to be the opening races of those seasons, along with another three years covered by the contract. Melbourne soccer fans were thrilled with the men’s team’s World Cup campaign but less than impressed with the decision to stage the next three A-League grand finals in Sydney.The Australian Grand Prix Corporation and the Victorian government, which is in a pitched battle with NSW to secure major sporting events to stimulate tourism and corporate spending after the disruption of the COVID years, seized the opportunity to renegotiate the contract for a further two years.
The Australian Grand Prix has been run at the Albert Park street circuit since 1996 after the Kennett Government poached the event from Adelaide. The event costs taxpayers about $60 million to stage but provides a boon to the state’s hospitality industry. Last year’s race – the first since the onset of the pandemic – led to a 90 per cent occupancy of city hotel rooms.
“We don’t have the harbour, we don’t have the Gold Coast,” he said. “We have the city, our beautiful regions and our major events calendar that drag people into this state and give Melbourne a global profile.” In March 2020, the grand prix was cancelled two days before race day following a snap decision by Victoria’s Chief Health Officer Brett Sutton to prohibit people attending. Fans queueing up outside the gates at the time the decision was announced were left frustrated by the rapidly evolving situation.
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