Plenty of Aussies scattered through European open-wheel and GT racing. There's a few over in the US, and Asia as well. They might not all be at the pointy end of the field, but they're all certainly out there having a crack at it.
Matt Braid leaving, is not the end of the world. He righted the ship, with regards to the commercial side of things (go back a few years, and see how many events didn't have naming rights sponsors, in fact, the championship itself didn't either). Commercially, the sport is as good as ever from the mothership's point of view.
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