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Offline AshSimmonds

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Quote
Australian Grand Grand Prix in Melbourne recorded $40 million loss

 THE 2008 Formula One Grand Prix in Melbourne suffered a record $40 million loss, figures reveal.

Taxpayers again had to prop up the struggling event to the tune of $40.1m, the Australian Grand Grand Prix annual report shows.

The report, tabled in the Victorian Parliament today, also shows the Motorcycle Grand Prix made a loss of almost $4m.

Revenue for the FI Grand Prix was down marginally from the 2007 event, while expenditure soared by more than $5m.

Overall losses exceeded the previous year's deficit by more than $5m.

http://www.news.com.au/story/0,27574,24575509-29277,00.html



Offline app


  • Joined: Sep 2008

  • Location: Adelaide
http://www.news.com.au/story/0,27574,24575509-29277,00.html

I think we may have just seen the last Grand Prix for Australia. Serves Melbourne right for stealing our track. Karma's a b!tch!!

What was wrong with it being in Adelaide anyway. It won track awards and was well liked by the experts.



Offline scud

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i wonder how they come up with that figure when $200 hotel rooms are going for $500+ come GP time?



Online jim501

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Better get that track up and running at Beenleigh than!

You never know, crazier things have happened.



Offline scud

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Better get that track up and running at Beenleigh than!

You never know, crazier things have happened.
was always a pipe dream, and that was before everyone ran out of cash



Offline mhh

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I think we may have just seen the last Grand Prix for Australia.

No great loss, IMO.  It is probably the dreariest motorsport on the planet.



Offline STi Nut


  • Joined: Sep 2006

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As much as i love the F1 i am not surprised that there was a $40 mill loss this year, i was over there this year for my first time and could see the money being spent. in the box we were in there was a staff member there for every 4 or so people there. a bit over the top if you ask me.

also it isn't that much fun to watch after the first corner, there are more over taking's done by V8 supercar drivers in one weekend then there is in the whole season of F1....... not saying V8 Supercars are good either :P



Offline app


  • Joined: Sep 2008

  • Location: Adelaide
As much as i love the F1 i am not surprised that there was a $40 mill loss this year, i was over there this year for my first time and could see the money being spent. in the box we were in there was a staff member there for every 4 or so people there. a bit over the top if you ask me.

also it isn't that much fun to watch after the first corner, there are more over taking's done by V8 supercar drivers in one weekend then there is in the whole season of F1....... not saying V8 Supercars are good either :P

Sti Nut, wasn't the race ran at night? From what I was hearing, they knew that they wouldn't make much money in Australia - apparently having the GP at night was so that it was in time for European viewers to tune in and watch it live and I think that's where they were hoping to make the bucks.

No great loss, IMO.  It is probably the dreariest motorsport on the planet.

Not a great loss if it's Melbourne who loses it  :D So you are not a fan at all? I remember when the race was in Adelaide, I watched it in '95, I have good memories of it, it seemed like it was more than just GP back then, like Adelaide was more special than Melbourne.



Offline mondi

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.....like Adelaide was more special than Melbourne.

What?!!?!?!!?  Adelaide will never be more special than Melbourne, pfft!!!!!



Offline app


  • Joined: Sep 2008

  • Location: Adelaide
What?!!?!?!!?  Adelaide will never be more special than Melbourne, pfft!!!!!

Coming from a Melbourne person I'm guessing?

It always did well in Adelaide. As I said, won track awards etc. I suspiciously believe that the move had to do with the GP Australia boss being from Melbourne.



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