AUTOMOBILE RACING – VICTORIA

‘Heartbreaking’: Grand Prix cancelled again

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Original article by Patrick Durkin
The Australian Financial Review – Page: 7 : 7-Jul-21

The COVID-19 pandemic has forced the Victorian government to cancel the Australian Formula One Grand Prix for a second year. The 2021 race had already been rescheduled from March to November; the government has attributed its cancellation to factors such as the pace of the national vaccination rollout and a recent decision to slash the weekly cap on international arrivals. The logistics involved in the mandatory 14-day quarantine period for drivers and support teams is also said to have contributed to the Grand Prix’s cancellation. The Phillip Island round of the MotoGP world championship will also not be staged in 2021.

CORPORATES
AUSTRALIAN FORMULA ONE GRAND PRIX

Grand Prix good value for $60m, says Walker

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Original article by John Stensholt
The Australian Financial Review – Page: 3 : 13-Mar-15

It is estimated that it has cost Melbourne about $A467m to host the Australian Formula One Grand Prix over the last two decades. The race generated a loss of $A59.9m in 2014, and Australian Grand Prix Corporation CEO Andrew Westacott expects a similar loss in 2015. He adds that the race has a flow-on effect for sectors such as accommodation, with hotels’ occupancy rates rising substantially due to the influx of interstate and overseas visitors

CORPORATES
AUSTRALIAN GRAND PRIX CORPORATION, AUSTRALIAN FORMULA ONE GRAND PRIX, UBS AG, BENTLEY MOTOR CARS