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The Melbourne race cost the state almost 35 million Australian dollars (33 million US) of taxpayer money in 2007 and has been budgeted for more than 40 million dollars this year...........

AUSTRALIA has secured the rights to host the F1 Grand Prix in Melbourne until 2015, with a new evening start to reach a greater television audience overseas, officials said Friday.

The race at Melbourne's Albert Park will start 90 minutes later at 5:00 pm (0600 GMT) from next year after a new contract was signed with Formula One bosses overnight, Victorian Premier John Brumby said.

“Next year's later start time will mean even greater television audiences in the United Kingdom, Asia and European markets, which means more exposure for 'brand Melbourne' than ever before,” Brumby said.

The new timing is an apparent compromise following pressure from F1 chiefs for Australia to hold the race at night to suit European TV audiences. The event had been in danger of being handed to Russia, India or Korea.

The Victorian state government had said it would do “whatever is fair and reasonable” to keep the event after its current contract expires in 2010, but had repeatedly refused to introduce a night race.

The government said installing the necessary lighting would cost too much. The new deal includes an agreement that no artificial lighting will be used for the race for the term of the contract.

Formula One supremo Bernie Ecclestone said he was delighted with the new arrangement.

“I have wanted changes to the local race time so that we can increase the television audience in Europe and Asia,” he said in a statement.

“I'm satisfied that the decision to move to a later start time for 2009 races is a win for television audiences in Europe and Asia, a win for Melbourne and a win for Formula One as a whole.”

Despite the benefits of tourism and publicity for Melbourne, the Formula One race has been a costly financial exercise for Victoria.

Stormwarning[c] wrote: No where until at least 2015.

The Melbourne race cost the state almost 35 million Australian dollars (33 million US) of taxpayer money in 2007 and has been budgeted for more than 40 million dollars this year...........

AUSTRALIA has secured the rights to host the F1 Grand Prix in Melbourne until 2015, with a new evening start to reach a greater television audience overseas, officials said Friday.

The race at Melbourne's Albert Park will start 90 minutes later at 5:00 pm (0600 GMT) from next year after a new contract was signed with Formula One bosses overnight, Victorian Premier John Brumby said.

“Next year's later start time will mean even greater television audiences in the United Kingdom, Asia and European markets, which means more exposure for 'brand Melbourne' than ever before,” Brumby said.

The new timing is an apparent compromise following pressure from F1 chiefs for Australia to hold the race at night to suit European TV audiences. The event had been in danger of being handed to Russia, India or Korea.

The Victorian state government had said it would do “whatever is fair and reasonable” to keep the event after its current contract expires in 2010, but had repeatedly refused to introduce a night race.

The government said installing the necessary lighting would cost too much. The new deal includes an agreement that no artificial lighting will be used for the race for the term of the contract.

Formula One supremo Bernie Ecclestone said he was delighted with the new arrangement.

“I have wanted changes to the local race time so that we can increase the television audience in Europe and Asia,” he said in a statement.

“I'm satisfied that the decision to move to a later start time for 2009 races is a win for television audiences in Europe and Asia, a win for Melbourne and a win for Formula One as a whole.”

Despite the benefits of tourism and publicity for Melbourne, the Formula One race has been a costly financial exercise for Victoria.

AAS wrote:

Stormwarning[c] wrote: No where until at least 2015.

The Melbourne race cost the state almost 35 million Australian dollars (33 million US) of taxpayer money in 2007 and has been budgeted for more than 40 million dollars this year...........

AUSTRALIA has secured the rights to host the F1 Grand Prix in Melbourne until 2015, with a new evening start to reach a greater television audience overseas, officials said Friday.

The race at Melbourne's Albert Park will start 90 minutes later at 5:00 pm (0600 GMT) from next year after a new contract was signed with Formula One bosses overnight, Victorian Premier John Brumby said.

“Next year's later start time will mean even greater television audiences in the United Kingdom, Asia and European markets, which means more exposure for 'brand Melbourne' than ever before,” Brumby said.

The new timing is an apparent compromise following pressure from F1 chiefs for Australia to hold the race at night to suit European TV audiences. The event had been in danger of being handed to Russia, India or Korea.

The Victorian state government had said it would do “whatever is fair and reasonable” to keep the event after its current contract expires in 2010, but had repeatedly refused to introduce a night race.

The government said installing the necessary lighting would cost too much. The new deal includes an agreement that no artificial lighting will be used for the race for the term of the contract.

Formula One supremo Bernie Ecclestone said he was delighted with the new arrangement.

“I have wanted changes to the local race time so that we can increase the television audience in Europe and Asia,” he said in a statement.

“I'm satisfied that the decision to move to a later start time for 2009 races is a win for television audiences in Europe and Asia, a win for Melbourne and a win for Formula One as a whole.”

Despite the benefits of tourism and publicity for Melbourne, the Formula One race has been a costly financial exercise for Victoria.

Knew this about 3 months ago but please post the source of your infomation.

nacho wrote:

AAS wrote:

Stormwarning[c] wrote: No where until at least 2015.

Knew this about 3 months ago but please post the source of your infomation.

how could u know 3 months ago? they just reached an agreement today

Stormwarning[c] wrote: Source was AAP via the Premiers media release.

With so much advance knowledge you should share with your friend the Tatts numbers

Stormwarning[c] wrote: AAS, didn't say it was a personal attack on me at all, and how is suggesting you share the tatts numbers childish

Stormwarning[c] wrote: Just with so much advance knowledge of so many things you could make a killing at the bookies and when you have the likes of CentreBet prepared to take near any wager on anything and being so informed you'd put at least a couple of hundred on it.