News Details
Australian Grand Prix posts record loss
Start of the 2014 Australian Grand Prix
The 2014 Australian Grand Prix posted a record $55 million loss amid soaring costs and declining revenue, government officials said on Wednesday.
The loss, subsidised by taxpayers in Victoria, the host state of the Melbourne Formula One race, outstrips last year's deficit of $46 million by over 18 percent.
Sales revenue was down $2 million while expenditure was up $6.5 million, Victoria's Major Events minister Louise Asher told reporters.
The race, which has traditionally opened the F1 season, has recorded $45 million-plus losses for a number of years, sparking a backlash from local critics who see it as a waste of public money.
The controversy was...
Full Story »
Full Story »
12y ago from GrandPrix247.com
0
You May Also Be Interested In...
Italian GP: Driver ratings
Red Bull/Getty Images
We rate the drivers for their performance in the...
12y ago from F1Zone.net
Provisional 20 race 2015 calendar revealed
Williams Martini Racing
A provisional 20 race calendar for the 2015...
12y ago from F1Zone.net
Book your VIP spot at the 2015 Monaco Grand Prix
Monaco the jewel on the F1 calendar
Watch the Monaco Grand Prix Race 2015...
12y ago from GrandPrix247.com
Italian Grand PrixView
Red Bull/Getty Images
The Formula One paddock moves on to Italy this...
12y ago from F1Zone.net
Elsewhere On The Network
Popular On MGPToday.com
Fabio Di Giannantonio smashes all-time lap record to...
Fabio Di Giannantonio stole the spotlight in Friday’s FP2 by setting an...
2h ago from MotorsportWeek.c...
Pedro Acosta on shock Friday failure in Qatar: 'It...
No description available...
1h ago from Motorsport.com
MotoGP Qatar GP: Fabio Di Giannantonio fastest in...
No description available...
2h ago from Motorsport.com
Marc Marquez leads Qatar MotoGP FP1 as Jorge Martin...
Marc Marquez led the way under the Lusail afternoon sun in MotoGP's...
7h ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Colton Herta backs Mexico IndyCar race following Pato...
No description available...
1d ago from Motorsport.com
ECR prepares for IR-28 transition with in-house...
No description available...
3d ago from Motorsport.com
Jacob Abel ‘reevaluating everything’ after solid...
No description available...
3d ago from Motorsport.com
Ed Carpenter Racing invests in DIL simulator
Ed Carpenter Racing has announced that it will purchase and implement a...
3d ago from MotorsportWeek.c...
Popular On TotalWRC.com
New WRC constructor offers update on 2027 car...
No description available...
7h ago from Motorsport.com
Sebastien Ogier tipped for partial WRC 2027 programme
No description available...
1d ago from Motorsport.com
Oliver Solberg relishing Toyota’s historic Celica...
No description available...
2d ago from Motorsport.com
Toyota explains call to run Celica and Yaris models in...
No description available...
3d ago from Motorsport.com
Popular On GunnersToday.com
Arsenal injury update: Latest on Ezri Konsa, Bukayo...
Mikel Arteta has confirmed that Arsenal will be without Bukayo Saka for...
1h ago from SportsKeeda.com
Premier League news: United’s Baleba out for weeks,...
No description available...
3h ago from TheGuardian.com
Arteta on 'brilliant' White's England recall - 'He...
Arsenal boss Mikel Arteta speaks about Ben White's England recall, having...
5h ago from SkySports.com
Arsenal and Man City ready to battle for 'outstanding...
Arsenal and Manchester City are continuing to monitor Newcastle United...
9h ago from CaughtOffside.com
Comments
Hottest News
The Lewis Hamilton detail that says everything about his...
Former Ferrari engineer Rob Smedley has weighed... Read More »
1h ago from GPFans.com
F1 2026 Sao Paulo Grand Prix – FP1 Results
Lando Norris has gone quickest for McLaren... Read More »
3h ago from MotorsportWeek.com
Toto Wolff offers first insight into Esteban Ocon axe from...
It is the first time any F1 paddock figure has... Read More »
45m ago from RacingNews365.com
