Australia Looks to Alternative F1 Track
The state government is currently losing millions of dollars year after year, due to the high expenses of setting the Australian Grand Prix at Albert Park. According to the aforementioned source, the losses recorded by the Australian Grand Prix last year were $16 million worth, while to reach a blowout $40 million this year.
“If the Government could extend the agreement with Bernie Ecclestone then we believe we can justify a new facility of an F1 standard – world's best practice – at Avalon. It would be wrong of the Government not to address something that might be of less expense for the taxpayers,” confirmed Fox.
According to the Linfox director, the costs of setting a new track to host F1 races near Melbourne would decrease significantly in the years to come. Under its current layout, the government spends no less than $20 million to make the necessary adjustments for the upcoming Aussie GP, whose only advantage is that its set up close to the city.
The plan is yet to be discussed with the Government representatives. Considering the contract with Bernie Ecclestone for hosting the Australian Grand Prix will run out in 2015, there would be plenty of time to design, build and finalize an F1 venue in due time, especially with the financial advantages it comes with.