31 replies to this topic

[D.M.N.]

http://www.heraldsun...x-1226559617047

VICTORIANS are paying more than $30 million a year for the right to host the Formula One Grand Prix under a top-secret deal with billionaire Bernie Ecclestone.

The Herald Sun has seen Grand Prix documents that reveal the overall cost of Mr Ecclestone's licence fee - kept secret by four successive state governments for almost two decades - for the five-year contract is close to $170 million.

The documents, dating from 2010, expose an "escalator" clause in the contract that sees the licence fee rise by five per cent annually - regardless of how the Albert Park event fares.

In revelations that will spark renewed debate about the race, the documents show the licence fee climbs from $US31 million in 2011 to almost $US38 million in 2015.

Now multiple that by 20 and you can see how much money FOM get... Although one assumes Australia pays slightly more for being round one of the calendar.

[Disgrace]

We have this story every year to be fair, I've had the impression that this race has been on life support for a while.

[r4mses]

[...]



Now multiple that by 20 and you can see how much money FOM get... Although one assumes Australia pays slightly more for being round one of the calendar.

I'm sure, some pay more (newer, asian hosts), some pay less (spa, monza).

[itsademo]

Now multiple that by 20 and you can see how much money FOM get... Although one assumes Australia pays slightly more for being round one of the calendar.

what an amazingly simple world you paint
shame you missed out 99% of it
Like the costs involved with shipping the teams and cars 1/2 way round the world
Or the cut the teams take,
not to mention all the others taking their bit too.
and, and, and.
Its called costs and you really need to take those off the total before you ever start claiming anyone gets anything of any amount paid

edit add
lets also not forget Monaco pays nothing so thats 5% of your total straight away gone even without looking at costs

Edited by itsademo, 22 January 2013 - 19:58.

[Myrvold]

So, 600 mill USD, split on 12. 50 mill USD to each team. And voila, HRT would've survived... Idiotic stuff.

[slmk]

So, 600 mill USD, split on 12. 50 mill USD to each team. And voila, HRT would've survived... Idiotic stuff.

A cut goes to Bernie (rightfully so), and I'm assuming their cut of the FOM money is based on WCC position/points, isn't it?

[repcobrabham]

this is where i kick-start my perth 2016 rumour - $30m pa is nothing to mining magnates if it means they get a new track to race their hyper-cars for the rest of the year...

[Ulysses777]

That's also not counting income from TV rights and trackside advertising.

Edited by Ulysses777, 22 January 2013 - 21:01.

[gm914]

this is where i kick-start my perth 2016 rumour - $30m pa is nothing to mining magnates if it means they get a new track to race their hyper-cars for the rest of the year...

This could very well happen. Even sooner than 2016.

[repcobrabham]

thanks, there's absolutely no substance to it but it actually makes a lot of sense! there are two horse racing tracks with a mile of each other across the river from the perth CBD, so i reckon one of them is expendable. alternatively, there's a new mega-hotel development being built nearby that has a planned golf course that could have a track built through / around it. it sounds extravagant and ridiculous, but that's perth.

Edited by repcobrabham, 22 January 2013 - 21:52.

[Ian G]

this is where i kick-start my perth 2016 rumour - $30m pa is nothing to mining magnates if it means they get a new track to race their hyper-cars for the rest of the year...

...or Gold Coast/Brisbane,Vict.Govt. looking for a way out if Bernie puts the $ up again.


http://www.imett.com...tml#motorracing

Edited by Ian G, 22 January 2013 - 21:53.

[Myrvold]

A cut goes to Bernie (rightfully so), and I'm assuming their cut of the FOM money is based on WCC position/points, isn't it?

Yes, to both.

However, FOM does have more income as far as I... don't know, but imagine And the 50 mill to each team, was a theory if all teams get the same amount of money from FOM.

[repcobrabham]

...or Gold Coast/Brisbane,Vict.Govt. looking for a way out if Bernie puts the $ up again.


http://www.imett.com...tml#motorracing

it's still on the east coast and that much further away from europe and SE asia, both in terms of distance and time zones. that's the ace up perth's sleeve - they can become part of a SE asian F1 'circuit' comprising all the new events there (india, korea, china, singapore) plus japan. remember too that australia's traditional geographical 'partner' in malaysia is looking shaky...

[NotSoSilentBob]

I dont think Australia needs to be first in the calendar, i'd personally much rather be later in the year as I HATE going to Melbourne with no real clue of the true pecking order. Every year you set yourself up to be disappointed.

I'd also welcome a Perth GP.

[Zippel]

I remember being outraged when Melbourne took it away from Adelaide but with that sort of cost blowout and the way F1 is today, they are more than welcome to it! We'll keep our crappy taxi racing, thank you.

[jonpollak]

this is where i kick-start my perth 2016 rumour - $30m pa is nothing to mining magnates if it means they get a new track to race their hyper-cars for the rest of the year...

I LOVE, LOVE, LOVE, W.A.
I can see it now..The Burswood GP
or better yet Maragret River GP

Jp

[Tonka]

£30m is only part of the FOM income.

They also get the tv rights, all on track advertising and income from the paddock club.

[BoschKurve]

I wish I could have been as fortunate in life as Bernie.

[Ian G]

I'd also welcome a Perth GP.

I think Perth is a real chance in the years ahead,if Bernie keeps banging on about a night race & the Libs stay in power its no certainty to stay in Melb.

[repcobrabham]

i've realised my regional geography is a bit wayward - japan isn't in SE asia, of course! but i can see the season kicking off in perth (sorry bob) then going to malaysia (if it's still on the circuit), singapore and india before heading to europe for a few races. they go to canada and the US before continuing westward for china - korea - japan and onto europe for the remaining races and finish in brazil. just thinking out loud...

Edited by repcobrabham, 23 January 2013 - 02:36.

[Brother Fox]

...or Gold Coast/Brisbane,Vict.Govt. looking for a way out if Bernie puts the $ up again.


http://www.imett.com...tml#motorracing

Not a chance I reckon, Campbell Newman wont spend the money.

Thats a crazy amount of public money though isnt it, even as a fan you have to wonder if its worthwhile.


On the plus side, means the start of the new season is close if Melbourne is complaining about the GP costs, all we need now is a threat to lose the race from Bernie and we'll start the year.

[Alfisti]

Thats a crazy amount of public money though isnt it, even as a fan you have to wonder if its worthwhile.

TBH i don't think it is. SURELY the city pulls in at least that amount just between the hotels and restaurants being maxed out. Add the jobs the place supports for a few weeks and the numbers REALLY should add up frankly.

[Ian G]

TBH i don't think it is. SURELY the city pulls in at least that amount just between the hotels and restaurants being maxed out. Add the jobs the place supports for a few weeks and the numbers REALLY should add up frankly.

It depends on who does the figures but the Qld Casino's are too far away for the F-1 circus.

The guy from IMETT that was interviewed on Sydney Radio last week seemed to alude to the Qld. Govt favouring a permanent circuit instead of the GC Street race so they would get part of that budget to get things going you would think.


http://www.speedcafe...rs-street-race/

Edited by Ian G, 23 January 2013 - 03:14.

[Brother Fox]

One of those things where its hard to get a real answer to what they get out of it. Most 'studies' have an agenda and just support that.
When I first went to Melbourne 2000 or 2001 the city was pumping with all thngs F1. It was fantastic.
The last time i went which must have been 2006 or 2007 (gees time flies- the year Button went ka-blammo in the last corner) the city as a whole seemed to be a bit over it. It just didnt have that vibe that it had 5 years earlier.

Not sure what its like now but I wonder if the flow on benefts are dwindling.

Plus any spend of public money that benefits a small group of people needs to work hard to justify itself in my eyes.

[SUPRAF1]

Would it be cheaper if they just raced on Mount Panorama?

[repcobrabham]

we have this debate every year about profit / value and the answer depends on how you cut the figures, but one likely point is that melbourne must get more exposure and income from the open than from the GP with less investment and discord. if their stated aim is prominence and prestige, then F1 seems like overkill after hosting a grand slam tennis final only a month or so earlier.

OTOH you have the world's most isolated city that's right next to asia which is full of rich people demanding recognition and entertainment. surely perth is already on bernie's radar? i tell you what, if this works out then i'll be DEMANDING a job on their publicity team!

[repcobrabham]

Would it be cheaper if they just raced on Mount Panorama?

i know you're phishing but imagine the damage bill alone! plus i can't imagine F1 types camping on the mountain. silverstone is too tough for them as it is.

[BCM]

I'll buy a hat and eat it if the GP ever moves to Perth*. WA government swapped out Rally Australia for some triathlon crap because they thought it offered "better value for money". TV coverage of the triathlon? Zero as far as I know.

* Happily I might add. I live in Perth.

Edited by BCM, 23 January 2013 - 08:53.

[repcobrabham]

live TV coverage of any form of rallying in this country in the past few years? zero.

rally stages that would be suitable for a 458, gallardo, sls etc OR single wheeler? zero.

publicity value of F1 GP race on banks of swan river across from perth CBD? priceless.

certainly not saying it's a certainty or prepared to get into any hat-eating wagers, but...

[goldenboy]

this is where i kick-start my perth 2016 rumour - $30m pa is nothing to mining magnates if it means they get a new track to race their hyper-cars for the rest of the year...

Put a track on Barrow Island with me, my life would be complete!


Your not wrong about the money these guys throw around. I thought I used to work for big companies when they were throwing around figures of hundreds of millions. That's chump change over here. I've only been in Perth a short time but I doubt they would have trouble getting people to pay ludicrous amounts for tickets.

[Brother Fox]

I can't shake the image of Sam Kekovich saying
"You know it makes sense!"

[SenhorBeef]

There seem to be a few in the Oz media who are dying to get rid of the GP. Presumably they will succeed eventually. Terrible shame though, it's one of the ones I enjoy a lot.

I wish I could have been as fortunate in life as Bernie.

Surely luck is when you're born into wealth. I'm not one for defending BCE but he took his opportunities and worked his way to the top, I don't think luck has anything to do with it.

Debate for another day I guess.