GP to stay until 2020

The Victorian government has done a deal to keep the Formula 1 Grand Prix at Albert Park until 2020.

The announcement is reported to be worth up to $250 million dollars, but brings in billions of dollars worth of free publicity and promotion for Melbourne and Victoria, while reportedly contributing approximately $80 millions dollars to the Victorian economy every year.

Premier Napthine made the announcement at Treasury place and said that keeping the race confirmed Victoria’s position as the sporting capital of the world.

As Albert Park residents we are excited to see the race stay here.