The Australian Grand Prix will be held at Albert Park in Melbourne until at least 2023, according to Australian reports.
After a strong bid from the New South Wales state to host the race in Sydney, race organisers of the 20-year-old Albert Park track have signed a three-year contract extension with F1 supremo Bernie Ecclestone to ensure that the state of Victoria keeps the traditional curtain raiser. The previous deal expired in 2020.
It has been rumoured that Albert Park pays one of the highest race fees on the calendar to FOM, in order to ensure that “Visit Melbourne” branding is placed around the track instead of the usual sponsorship hoardings. There is an additional fee to ensure that Australia hosts the first race of the season, too.
Formula One has visited Australia every year since 1985, with the first eleven Grands Prix being held at the tight and twisty Adelaide street circuit. It was, of course, here that the legendary 1986 season finale decided the title, with Nigel Mansell’s tyre letting go – gifting the World Championship to Alain Prost.
For the 1996 season, Melbourne gained the rights to host the race, which was moved from being the season finale to become the season opener. The maiden race was spectacular, with Jacques Villeneuve coming ever so close to winning on his début.
As well as providing F1 with some great action, the Grand Prix brings in nearly A$40 million to the local economy with crowds regularly exceeding 300,000 over the four days of action provided by the organisers.
We have seen many great races at Albert Park, so let’s hope that the new deal means that there are many more to come.
