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Post by susieq on Feb 21, 2011 16:03:49 GMT
Melbourne should cut its losses and not renew its contract to host the Formula One Grand Prix when the current deal runs out in 2015, a local lawmaker told Australia's parliament.
Melbourne may pull plug after 2014. Melbourne has hosted the race since 1996 but with losses now running at A$50 million ($50.59 million) a year, a fierce debate has been ignited in the city over the future of the event.
Member of Parliament Michael Danby, whose Melbourne Ports electorate includes the Albert Park street circuit, said a straw poll of local residents indicated 10 to one were against the race continuing.
"The grand prix may have been a good deal in 1996, when it cost the government only $1.7 million; but, with falling crowd numbers and taxpayers footing a $50 million-a-year bill, the government should cut its losses and walk away," he told parliament. From yahoo.
I remember the days when Australia hosted 2 GP's. Sad times
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