Melbourne boss Walker in talks for new F1 deal

Melbourne is closing on a new deal to secure the future of the Australian grand prix.

Race boss Ron Walker is in Singapore this weekend, where according to the Herald Sun newspaper he met with Bernie Ecclestone and negotiated the terms for a new contract.

"The deal is pretty much done," said a source, "and will now go to the (state government) cabinet for approval."

The current contract expires in 2015.

"We would support the grand prix - we would like (to keep) the grand prix - but not at any price," said premier Denis Napthine, who won office in March.

(GMM)

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