Motorsport

Melbourne extends F1 contract till 2023

2015-09-13 14:30
Bernie Ecclestone (file)

Melbourne - Melbourne has secured the hosting rights to the Australian Formula One Grand Prix until 2023, the Victoria state government announced on Sunday.

Melbourne last year signed an agreement to continue hosting the race until 2020 and Victoria Premier Daniel Andrews said the state government had agreed to a three-year extension to 2023.

"There's nothing quite like the Australian Grand Prix in Melbourne and the buzz it creates around our state," Andrew said in a statement.

Melbourne has hosted the Australian Grand Prix since 1996, when the race was switched from Adelaide but it has became a local political issue after years of heavy financial losses, subsidised by taxpayers.

Formula One supremo Bernie Ecclestone has in the past suggested the race was one of the least viable on the sport's calendar because of the time difference with the key European television market.

Despite posting record losses amid soaring costs and declining revenue, Melbourne has retained its place as the opening race on the calendar.

"We are very happy to extend our relationship with Melbourne," Ecclestone was quoted as saying in the statement.

Read more on:    formula 1
NEXT ON SPORT24X

What To Read Next

 

Read News24’s Comments Policy

Live Video Streaming
Video Highlights
Sport Talk

Live scoring

 
 
Men
Women
Love 2 Meet
Sport24 on Twitter

Follow Sport24 news on Twitter

English Premiership flutter

Take Sport24's "expert" tips at your peril...

Featured

The 2017/18 Absa Premiership season is under way. Can Bidvest Wits defend their title? Will Soweto giants Kaizer Chiefs or Orlando Pirates emerge victorious? Or will the bookies' favourites, Mamelodi Sundowns, taste success for a record eighth time? Stay glued to Sport24 to find out!

Latest blogs
Vote

Hypothetically, given the same cars to drive, who is the most talented current Formula One driver in your opinion?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

RSS Feeds Sport news delivered really simply.

 
There are new stories on the homepage. Click here to see them.