21 replies to this topic

[icecream]

 

 

The Australian Grand Prix will remain in Melbourne until at least 2020 after the Napthine Government signed a new five-year deal.

 

 

 

Premier Denis Napthine won't say how much the new contract is worth, but insists it's better than previously negotiated.
 

 

http://www.theage.co...0803-3d1dq.html

 

as a fan, happy it will remain, though not convinced it's worth the coin. hopefully we at least had someone who wasn't bernie's pal going in to bat this time.

[Brother Fox]

Better than previously negotiated

 

 

ie. Bernie used lube this time

[Eff One 2002]

Great news.

[Ricciardo2014]

$250 million for 5 years is the reported cost.

[sheepgobba]

$250 million for 5 years is the reported cost.

 

$50million roughly a year… How much are the Europeans, Asians American's paying? 

 

Not sure if that's a reasonable amount or Bernie ripping off Vic. 

Edited by sheepgobba, 03 August 2014 - 05:34.

[Ricciardo2014]

$50million roughly a year… How much are the Europeans, Asians American's paying?

Not sure if that's a reasonable amount or Bernie ripping off Vic.

Yeah, I don't know either mate, but they are saying its less than in previous contracts.

Hard to really tell how much cash is actually generated by holding a race.
The GP itself has run at a loss every year afaik, but the city itself makes a killing.

[HuddersfieldTerrier1986]

Excellent news. Even better is the fact it sounds like it's kept it's opening race slot for next year at least (really hope that's true, although it's not as good as it used to be for me in the sense that I loved the fact the season started at around 3am UK time, which probably makes me sound daft, but nothing was better than being up at around 2/3am for the start of the F1 season)

[AustinF1]

Yeah, I don't know either mate, but they are saying its less than in previous contracts.

Hard to really tell how much cash is actually generated by holding a race.
The GP itself has run at a loss every year afaik, but the city itself makes a killing.

This article says the race cost $50M last year, too.

 

 

 

Here's what Ernst & Young came up with regarding Economic Impact...iirc the economic impact estimated in this 2011 report was about $35-39M AUS. 

 

http://www.tourism.v...al_21_07_11.pdf

 

What's interesting to me is that the USGP, another state-supported race, claims 6 TO 8 times that amount, despite smaller attendance. But then their estimates were done by their own hired economist, not Ernst & Young.

Edited by AustinF1, 03 August 2014 - 11:17.

[Anderis]

I'm happy. It has always been one of my top5 favourite tracks.

[JHSingo]

So much for looking at IndyCar as an alternative because they're dissatisfied with the noise, then...

[Prost1997T]

This article says the race cost $50M last year, too.

 

 

 

Here's what Ernst & Young came up with regarding Economic Impact...iirc the economic impact estimated in this 2011 report was about $35-39M AUS. 

 

http://www.tourism.v...al_21_07_11.pdf

 

Doesn't sound like a great deal for the local taxpayers, but they're not calling the shots here...

[nicholasc]

Sounds like Bernie is locking in races before the price falls.

It'd be interesting to see the break contract penalties.

I haven't lived in Melbourne for a few years - is the local opposition increasing/decreasing/the same as it always was?

[BRG]

So much for looking at IndyCar as an alternative because they're dissatisfied with the noise, then...

It's worked - they have got a deal at current cost, instead of Bernie's favoured escalator deal which ramps up the price each year.  First crack in the CVC/FOM dam and it won't have gone unnoticed by the other circuit owners.

[PapaD]

Sounds like Bernie is locking in races before the price falls.

It'd be interesting to see the break contract penalties.

I haven't lived in Melbourne for a few years - is the local opposition increasing/decreasing/the same as it always was?

 

Probably about the same. The folk who live near the park don't like being swamped by the bogans.

[Ricciardo2014]

Probably about the same. The folk who live near the park don't like being swamped by the bogans.

Those providing accommodation do though.
The cost of finding an apartment during the GP week is usually double the normal rate, and triple in some cases.

I think the hospitality industry does quite well out of the Aus GP.

[HeadFirst]

Good news. Once more fear for a beloved race and loathing for the Toxic Vampire, can be temporarily shelved. Monza next please!

[Lotusseven]

Melbourne Grand Prix: Victorian Sport Minister laughs off suggestions Sydney could poach race 

I guess some contracts can be terminated ? (as long as not VDG & co. Are involved of course.    )

[275 GTB-4]

Melbourne Grand Prix: Victorian Sport Minister laughs off suggestions Sydney could poach race 
I guess some contracts can be terminated ? (as long as not VDG & co. Are involved of course.    )

NSW is in full electioneering mode so I wouldn't put too much store in whatever the liars (sorry, Politicians) are saying...

The use of the Webber footage is pathetic...there is no way the Sydney Harbour Bridge could be used without massive modification.

[Ian G]

Actually they have a basic layout planned Mick,as i posted before it includes using the Bridge but how they do that without turning Sydney upside down for over a Week is the biggee.

[EarnardBeccelstone]

NSW is in full electioneering mode so I wouldn't put too much store in whatever the liars (sorry, Politicians) are saying...

The use of the Webber footage is pathetic...there is no way the Sydney Harbour Bridge could be used without massive modification.

 

Stupid bloody politicians.

 

Plus the actual  track proposal is worse than a joke. It’s worse than Sochi!

 

Chicanes on the Harbour Bridge! 90 degree turns and nothing more! Shut the entire CBD down for a week! What the hell were they smoking?

 

Money grubbing, attention seeking, puffed up, right leaning, wrong thinking, ex-investment banker moron!

 

I'm not political but I now hope Baird gets tossed out on his ass.

[275 GTB-4]

Pipe Dream

n : a fantastic but vain hope (from fantasies induced by the opium pipe);

' I have this dream about being the king of the universe.' or

' I have this dream about being the king of NSW Inc and making the Harbour Bridge into a Disney theme park including little wee Bernie's performing Eff Wun Circus.'

[Ian G]

I'm not so sure Mick,they are serious about getting a bid in and using the Bridge as a selling point but its going to be a hard sell in every respect.. Despite several previous Vict. Premiers threatening to dump it the latest NSW challenge will probaly galavanise future Vict. Govt. into keeping it just to stop NSW getting it.