2010 Australian GP Cost $49 Million

For years now, the Australian Grand Prix in Melbourne ceases to become profitable, bringing some huge money losses to the Victorian government Down Under. And the 2010 season makes no exception, as it was reported in the local media that this year's Aussie GP has cost the taxpayers no less than $49 million.

According to the reports, the Melbourne race cost the Victorian taxpayers double the sum spent for the 2006 Australian Grand Prix and is the biggest loss recorded by the grand prix in 5 years.

Under the circumstances, several political figures in Victoria have expressed their criticism over the hosting of the Australian Grand Prix, arguing that this lost money could easily go to “health services, education, support services for disabled kids at schools, for roads and other infrastructure,” as insisted upon by independent state MP Craig Ingram.

Despite the fact that this year's race benefited from plenty of spectators in the grandstands, the event recorded money losses in all segments, including tourism and accommodation. Nevertheless, Major Events Minister Tim Holding begs to differ.

The race was seen by about 12.8 million people in Europe this year and the massive television exposure that the Melbourne Grand Prix receives has helped to build our world-wide reputation as a great place to visit and a great place to live,” said Holding, according to Autosport.

This year's Grand Prix attracted the biggest crowd in five years and a television audience of 4.6 million in Australia, and with Mark Webber in such good form we expect that next year's Grand Prix will be even more exciting.

This year's race was joined by another controversy however, following Lewis Hamilton's little encounter with the police on the streets of Melbourne. He was fined for doing some donuts on a Melbourne boulevard and was afterwards heavily criticized by the Victoria Roads Minister Tim Pallas, who called the 2008 F1 champion a “d**khead” and asked for his F1 superlicense to be suspended.
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