That's the second year in a row the Victorian government has to face such a high loss following the Australian Grand Prix, as figures for 2008 showed a similar financial result. As compared to last year, however, the revenue for the Melbourne race was $40 million – a slight increase – mainly thanks to the “improved corporate sponsorship”, as noted by the GMM news agency.
Needless to say, this year's loss was blamed by the AGP Corp. on the global economic recession. Consequently, that would mean the Aussie officials performed pretty well in 2009, considering the fact that they registered similar losses to last year (when the economy was not in collapse).
Last year, following the successful Singapore Grand Prix, Bernie Ecclestone pushed for another night race in Formula One and his thoughts went immediately to Australia – as it would have ensured an improved TV audience in Europe. The Aussie officials then argued that the event is already money losing and hosting a night race would be out of the question.
Ecclestone eventually backed down and agreed to the initial schedule.
Australia is not the only circuit with money problems, as recent reports have shown that Spa-Francorchamps, Istanbul, Hockenheim and returning Canada are also financial disasters when it comes to incomes. All have had – and continue to have – money problems year in and year out, which forces Ecclestone to rethink the entire calendar of F1 at the end of each season.
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