CEO of the Australian Grand Prix corporation Andrew Westacott has hosed down suggestions Sydney could take the famous race off Melbourne when the current contract expires.
7 News broke the story on Thursday night that the New South Wales state government was in high-level talks to poach the Grand Prix, with Victoria’s contract set to end in 2025.
The race has been cancelled for the past two years because of the pandemic, however Westacott says the race is staying put.
“No, it’s not going anywhere,” he told SEN Drive.
“We’ve got the contract to 2025, while it hasn’t been on our shores because of the pandemic, we’ve got a strong relationship with the guys at F1 and it’ll be here on the 10th of April, which is a different date.
“You get that extension by working with your partners that you’ve worked with for a quarter of a century.”
Despite no suggestion a new contract was imminent, the Australian Grand Prix boss says negotiations are happening all the time.
“People ask when do those negotiations happen, they pretty much happen when you ink the new contract and you’re looking to the future,” Westacott said.
“You’re developing the event, you’re developing the circuit, we’ve spent $20 million on upgrades on the geometry and configuration and resurfacing of Albert Park, which hadn’t been done for 25 years.
“Despite the fact there’s been disappointment on both sides for not being able to deliver an event in 2021, the relationship is very, very strong and you start looking to the future every time you talk to them about event enhancements and making it better.”
The first Australian Grand Prix was held in Adelaide but has been run at Albert Park in Melbourne since 1996.