Quote:
Originally Posted by wnut
The Victorian Auditor General has criticized much of this mythology.
If you take an attendance of 90 200 people in 2016 ( a generous figure boasted by the organizers) and a cost of $80 million dollars, then the taxpayer is funding every attendee at the track to the tune of $886, not sustainable.
The attendance figures are very doubtful and massively over estimated, the Grand Prix being the only event not to have its attendance properly verified. The organizers spent nearly half a million dollars in legal representation to prevent the actual attendances from being disclosed.
http://www.save-albert-park.org.au/s..._the_truth.pdf
It should also be noted that the Grand Prix was originally sold to the taxpayers on the basis that the event would be self funding and the state was only guaranteeing the event. It now costs not $80 million, but $100 million dollars a year I believe. I have no idea why, or how this event is allowed to continue by the Victorian Government, the "return" to taxpayers seems to be non existent making the event unsustainable and a cause for concern to us as fans.
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All of the above may be oh so true, but you're neglecting the worldwide exposure Australia gets to the millions that are watching. That's what any advertising is, which is what holding an F1 race is all about. The same as local govt. building a stadium to host a ball team; nations vying to host the Olympics.. Exposure is key.