Oct.15 (GMM) Organisers of the Australian grand prix revealed that March’s Melbourne event cost taxpayers $40 million (AUD).
In the Australian Grand Prix Corporation annual report, the loss was blamed on the global financial crisis and lower ticket sales.
A similar loss, picked up by the state Victorian government, was recorded in 2008. 2009 event revenue was also $40m, representing a slight increase compared with last year, due to improved corporate sponsorship.
