17 Nov 2010

Melbourne may quit Grand Prix

8:41 pm on 17 November 2010

Melbourne may not continue to host the Australian Grand Prix after the contract runs out in four years.

This year's race lost almost $NZ64 million and it has posted losses of more than $NZ50 million for the past three years.

Victoria's Labor goverment is up for re-election this month and the Opposition has questioned whether taxpayers should continue to pay for the losses. As a result, Premier John Brumby is not making any commitment beyond 2014.

The race has been held at a street circuit in Albert Park since 1996, replacing a similar temporary track in Adelaide used for the previous 11 years.