JULY 4, 2008
Australia confirms deal until 2015
The Australian Grand Prix has been secured for another seven years. The Victorian government and Bernie Ecclestone have agreed to a new deal, with the races starting at 5pm. With a maximum duration of two hours, this means that the races will end in the twilight, but this will mean that TV audiences across the world will grow. There will not be any need for artificial lighting, which will keep the costs to a minimum. The government said that the new arrangements will give Melbourne even more exposure, which is probably true.
The race has been making an increasing loss for some years but the government understands the value of the event and the income it generates for the state and so is happy to take the flak that comes from those who continue to oppose the event.