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 »
10y 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...
10y ago from F1Zone.net
Provisional 20 race 2015 calendar revealed
Williams Martini Racing
A provisional 20 race calendar for the 2015...
10y 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...
10y ago from GrandPrix247.com
Italian Grand PrixView
Red Bull/Getty Images
The Formula One paddock moves on to Italy this...
10y ago from F1Zone.net
Elsewhere On The Network
Popular On MGPToday.com
Brake problems again behind lack of pace for Francesco...
No description available...
15h ago from Motorsport.com
Marc Marquez only cares about MotoGP title and not...
No description available...
16h ago from Motorsport.com
Pedro Acosta buoyed by KTM turnaround in MotoGP 2025...
No description available...
15h ago from Motorsport.com
Marc Marquez dominates to record fifth successive...
Marc Marquez made history for Ducati after dominating the Czech MotoGP...
19h ago from MotorsportWeek.c...
Popular On IndyCarToday.com
The Winners and Losers of IndyCar’s 2025 Indy Toronto
No description available...
19m ago from Motorsport.com
IndyCar Toronto – Race Results
IndyCar completed its sole visit across the border this weekend, with a...
13h ago from MotorsportWeek.c...
Pato O’Ward, Arrow McLaren score strategic win in...
No description available...
13h ago from Motorsport.com
Kyffin Simpson rides two-stop strategy to breakthrough...
No description available...
11h ago from Motorsport.com
Popular On TotalWRC.com
How WRC rivals reacted to Oliver Solberg's first...
No description available...
2h ago from Motorsport.com
How the WRC service park reacted to Oliver Solberg's...
No description available...
14h ago from Motorsport.com
Oliver Solberg: WRC Rally Estonia win "biggest...
No description available...
16h ago from Motorsport.com
Oliver Solberg stuns with maiden WRC victory in Estonia
Oliver Solberg and Elliot Edmondson stunned the WRC elite with a...
20h ago from MotorsportWeek.c...
Popular On GunnersToday.com
Viktor Gyokeres frustrated by Arsenal transfer delay...
Viktor Gyokeres is frustrated by the delay in his proposed move to...
49m ago from SportsKeeda.com
Arteta: I can't talk about Gyokeres... yet
Mikel Arteta has said he cannot comment on Arsenal's pursuit of Viktor...
49m ago from SkySports.com
Sources: Liverpool hold 'discussions' with agent of...
Olympique Lyonnais are ready to evaluate incoming offers for young talent...
1h ago from CaughtOffside.com
Mikel Arteta ‘100%’ sure Arsenal followed right...
t;li>Manager addresses situation regarding former midfielderPartey has...
29m ago from TheGuardian.com
Comments
Hottest News
Zak Brown offers clear view on shock Christian Horner Red...
Christian Horner's axing from Red Bull caught... Read More »
1h ago from RacingNews365.com
McLaren F1 boss asks for FIA meeting amid Piastri penalty...
McLaren F1 team principal Andrea Stella has... Read More »
1h ago from GPFans.com
Why Adrian Newey was surprised by warm Aston Martin F1...
Adrian Newey has explained how his arrival at... Read More »
1h ago from MotorsportWeek.com
