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Formula 1: Australian Grand Prix boss dismisses 'cost' concerns

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Formula 1: Australian Grand Prix boss dismisses ‘cost’ concerns
After a lot of rumours, Australian Grand Prix boss Ron Walker ruled out Robert Doyle’s speculation that Melbourne might not hold the Australian Grand Prix because of rising costs.
Doyle is Melbourne’s Lord Mayor but Ron still believes that the Australian Grand Prix will take place in Melbourne for sure.
Doyle believes that if the Australian Grand Prix takes place in Melbourne, the turnout is not going to be satisfactory since the race no longer represents value for money for Victoria’s taxpayers. However, Ron Walker disagreed with this statement as he believes
that Melbourne’s Albert Park is a legendary Formula 1 track.
“It's a sad thing for the mayor of a major capital city to come out so publicly against a major event like the grand prix,” Walker countered, arguing that the AUD $50 million taxpayer bill is only one side of the story.
The Australian Grand Prix has been a part of the sport for many years and it was considered as the best “season opener” race. The track is very simple yet technical at the same time with high-speed corners and tight chicanes.
“On the other side ... there's an economic benefit of around $160 million. All of Mr Doyle's hotels, all of his restaurants do a very good trade. Then of course there's the tax that's collected of about $18 million a year. It's a huge profit for Melbourne,”
added Ron.
Albert Park is one of the most famous tracks in Formula 1 and fans travel from far away places to see the Australian Grand Prix. Moving the race to another venue all of a sudden is definitely not the best option. However, if the International Automobile
Federation (FIA) decides to move the Australian GP to another venue in a few years time, then that might be the best decision.
As a response to Lord Mayor Doyle’s recent comments, new Victorian premier Ted Baillieu admitted that the AUD $50 million taxpayer bill will be reduced in case of a new deal after 2014.

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