Threat hangs over future of Australian Formula One Grand Pix
MELBOURNE: The clock is ticking on next week's season-opening Formula One Grand Prix, which will be run against the backdrop of a threat to its very future.
The Melbourne race has been one of the most popular with drivers and fans on the circuit since its move from Adelaide in 1996, but pressures are mounting on organizers to agree to stage the race at night around Albert Park.
F1 supremo Bernie Ecclestone is threatening to take the event offshore, with India and Russia mentioned as destinations, if they do not comply.
His rhetoric comes over local organizers and the Victorian state government's reluctance to add further to their debts with the installation of lighting to enable the race to be held under the stars to suit European television audiences.
The Melbourne race, under contract until 2010, is financially hemorrhaging with Victoria losing almost $33 million of taxpayers' money in 2007.
It is budgeting for a blowout of more than $37.5 million this year. All up, the Melbourne GP has lost more than $113 million since its inception.
Ecclestone is playing hardball and says there are better prospects of chasing more money, sponsorship and television audiences if the event was held in India, Russia or South Korea.
"Maybe we don't want to be in Australia," Ecclestone told a local newspaper last month. "Our costs are very high in Australia and we get a lot less money. It's bloody bad for us."
He claimed car manufacturers and sponsors support a move and said Melbourne's only chance to keep the race was if it was held at night.
The billionaire wants Australia to fall into line with Singapore, which will stage the first-ever Formula One night race on September 28 on a circuit of public roads around the city-state's Marina Bay area.
Reports say Melbourne is looking at a licence fee of more than $37.5 million to continue with the race beyond 2010.
But if the city is to retain its place on the Grand Prix circuit, Ecclestone reportedly said terms would be non-negotiable.
"We would have to have a night race," he said. "That would be the only option."
Australian Grand Prix Corporation chairman Ron Walker is adament that this will not happen amid the mounting financial losses.
Victorian Premier John Brumby has already cast doubt on the future of the race, saying taxpayers were his prime concern.
AFP
(China Daily 03/07/2008 page22)
