Following unconfirmed reports at the weekend that a deal has been all-but struck to extend the current contract of the Australian Grand Prix until 2015, event chairman Ron Walker has acknowledged that ‘there is a proposal on the table'.
The race – a fixture on the sport's schedule since 1985, firstly in Adelaide and post-1995 in Melbourne – has been under threat for some time, running at a purported loss of some $160 million AUD over the last ten years and with
F1 ringmaster and commercial rights-holder
Bernie Ecclestone controversially arguing that neither the teams, drivers or sponsors have any desire to continue racing Down Under [see separate story –
click here].
Melbourne businessman Walker, however, confirmed that he had met the sport's supremo in London to hold what are believed to be ‘final negotiations' about the race's future.
With Ecclestone's previous insistence that it be run at night having seemingly been pacified by the agreement to move it to a 5pm start time – thereby supposedly guaranteeing higher European television audiences [see separate story –
click here] – the Victorian state government's tourism and major events minister Tim Holding has revealed that the only remaining stumbling block before the contract is signed and sealed is regarding the annual race promoters' fee. Ecclestone had allegedly telephoned Australian Prime Minister Kevin Rudd threatening to take the race away to Russia, India or Korea unless it was held at a time more palatable to European viewers.
“There is a proposal on the table,” 68-year-old Walker told the local
Herald Sun newspaper following his meeting with Ecclestone. “It's up to the government whether they accept it.
“The meeting was very cordial. We have a great relationship and discussions will continue.”
Holding has added that, night race suggestions apart, the government is fully behind the grand prix and desires to see the current contract extended beyond its expiry in 2010. He explained that major events — such as the grand prix, AFL grand final, spring racing carnival, Australian Open tennis tournament and Winter Masterpieces exhibitions at the National Gallery of Victoria — had become Victoria's ‘key point of difference' with other destinations in the country.
