Australians Unhappy With F1 CEO Ecclestone’s $34M Fee To Host Grand Prix

Ecclestone to Aussies – Pay up or go pound sand

F1 CEO Bernie Ecclestone will fly into Melbourne this week facing calls to cut his £23M ($34.2M) race fee "to save the future of the Australian Grand Prix," according to Kevin Eason of the LONDON TIMES.

Ecclestone will meet Victoria state Government new premier Denis Napthine, who finances "one of the most popular races on the calendar." Napthine is "up against a taxpayer revolt" after it was revealed that Ecclestone is charging a £23M fee for the rights to hold the race, which meant that the Australian government had to pick up a bill for £39M ($58.1M) "including the costs of setting up the Albert Park circuit in the city."

The '15 race will be the last in Melbourne unless Napthine "can win a deal that will head off the criticism from protest groups" that have provided a backdrop to recent grand prix. London Times

Leave a Reply