Aus GP reveals record loss

Wed, 4 October 2006, 02:09

The 2006 Australian grand prix recorded a loss of nearly $22m, according to a report tabled in parliament on Wednesday.

With the Melbourne event losing $13 million only a year ago, the race’s organisers blamed the 60 per cent increase on a decline in ticket sales due to the Commonwealth Games.

”There was a risk that revenue would be impacted by staging two major events so close to each other,” read an excerpt from the report.

Race organisation costs were also higher than normal, the report found.


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