Australia secures new GP deal until 2015

The Australian Grand Prix at Albert Park Circuit has secured a new deal to organise the race until 2015. The news comes after months of speculation about the future of the event. The race will however start at 5pm local time instead of 2pm and this to attract the European television audience.

Despite the change of hour, it was also agreed that no artifical lightning will be used during the term of the new contract.

"The Grand Prix brings big spending tourists, creates employment and business opportunities and provides Victorians with another opportunity to enjoy world-class entertainment in their own capital city," Mr Brumby said. "The massive television exposure that Melbourne receives year in year out has helped build our world-wide reputation as a great place to visit and a great place to live. Next year's later start time will mean even greater TV audiences in the United Kingdom, Asia and European markets which means more exposure for brand "Melbourne" than ever before."

Tourism and Major Events Minister Tim Holding said securing the Grand Prix was great news for tourism operators across the State. "Hosting the Grand Prix in Melbourne provides significant economic and tourism benefits for the whole State," Mr Holding said. "Each year our hotels are booked out with tourists from across Australia and the world and our restaurants and cafés are overflowing. Importantly, many people who come to Melbourne for a major event also travel to regional Victoria to try our great food and wine, to see the Great Ocean Road or to bushwalk through Victoria's High Country."

President of Formula One Management, Mr Bernie Ecclestone, said he was delighted the Grand Prix was continuing in Melbourne. "The Australian Grand Prix has always been a great show, with some of the biggest crowds in Formula One," he said. "I have wanted changes to the local race time so that we can increase the television audience in Europe and Asia. I'm satisfied that the decision to move to 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."

Australian Grand Prix Corporation Chairman, Mr Ronald Walker AC CBE, congratulated the Victorian Government and Formula One Management on the contract extension. "Formula One is good for Melbourne and Melbourne is good for Formula One," Mr Walker said. "We're very pleased that's been recognised by everyone and I'm extremely grateful to Premier Brumby and Minister Holding for their involvement and to Mr Ecclestone for his support. The team at the Australian Grand Prix Corporation will get on with what it does best - putting on a world class show every March at Albert Park."