Aus GP organisers reveal $40m race loss

Organisers of the Australian Grand Prix revealed that March's Melbourne event cost taxpayers $40 million (AUD). In the Australian Grand Prix Corporation annual report, the loss was blamed on the global financial crisis and lower ticket...

Organisers of the Australian Grand Prix revealed that March's Melbourne event cost taxpayers $40 million (AUD).

In the Australian Grand Prix Corporation annual report, the loss was blamed on the global financial crisis and lower ticket sales.

A similar loss, picked up by the state Victorian government, was recorded in 2008. 2009 event revenue was also $40m, representing a slight increase compared with last year, due to improved corporate sponsorship.

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Series Formula 1