F1 » Ecclestone responds to Melbourne criticism


Bernie Ecclestone reacts to criticism in the Australian media on costs involved in hosting of the Melbourne Grand Prix

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Caroline - Unregistered

January 24, 2013 11:44 AM

There are plenty of countries that want a GP, Mexico and South Africa to name but 2.

If Victoria aren't happy with making a direct profit of between $32 million and $39 million, (figures from the state of Victoria themselves), then they should let the race go somewhere else.

andrew2k

January 24, 2013 11:45 AM

While I respect Ecclestone as a businessman, to be honest the authorities do have a right to voice concern about the cost of hosting the race because its essentially taxpayer money being spent.

To further add a day will come when taxpayers say enough is enough when it come to funding sporting events especially with the world technically still in a recession. If anything, this very much highlight why I don't like the idea of publically funded sporting events as there are tons of private/corporate dollars out there willing to pick up the tab. Look at NASCAR and Indycar for example when you have IZOD and Sprint technically bankrolling the championships. If anything this is the direction F1(and MotoGP) need to go.

richard

January 24, 2013 12:15 PM
Last Edited 607 days ago

this is a little off topic, but i see that valencia "circuit" has been stripped by thieves and is in a shocking state. so thankfully we will not see there as an alternative.

elijah

January 24, 2013 12:23 PM

Bernie,“Have you spoken to whoever pays to see if the figure is correct?”

The problem here is the public pays the fees, but cannot be told what it costs them. A classic Bernie oxymoron.

CommodoreS

January 24, 2013 12:36 PM

Richard there's no need for a alternative.

This happens every year.

Its nothing but a Political Agenda.

The Vic Govt recognise they need the tourism dollars
but there is always someone who prefers to stir the pot.

They are presently hosting the Australian Open Tennis at the Rod Laver Arena which is in the Albert Park area but thats a a different story.

P.S. Googs - Been reading the headlines. Hectic couple of days and it just keeps comming

oldbiker - Unregistered

January 24, 2013 12:41 PM

GP contracts are multi-year agreements and often signed when economic times were good. However, we have now seen the most catastrophic downturn in most major economies and its not surprising, especially when taxpayers money is involved, that circuits want to re-negotiate.

The problem is that when circuits are dealing with Bernie, they sign knowing that they have to increase revenue year on year to match the increasing fees he demands.

This assumes a constantly expanding market, something which has never happened. Recessions occur and are cyclical, which is why Silverstone is desperately seeking commercial backers to help them out of the hole they dug, signing the contract when they thought they would lose the British GP.

richard

January 24, 2013 12:58 PM

commodore. i would not like to see oz losing their gp, but bernie works to a different agenda to what is considered the norm. by the way, what happened to the alternative , that we discussed last year?

CommodoreS

January 24, 2013 1:05 PM
Last Edited 607 days ago

Thats the stupid part Richard. Linfox were prepared to accept all liability and the Vic Govt said NO.

Linfox in turn have now put there money towards enhancing Phillip Island and transposing Avalon into a International Airport

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