Mortgage Blog

By: David Hastie

Source: Sunday Herald Sun February 28, 2010 12:00AM  A PLAN to move the Australian Formula 1 Grand Prix to a purpose-built, $200 million race circuit at Avalon is being considered in an attempt to keep the event in Victoria.  

The Sunday Herald Sun has seen documents that pave the way for a new permanent venue after the contract to host the race at Albert Park expires in 2015.  The Confederation of Australian Motor Sport has been granted funding to conduct a feasibility study to build the state-of-the-art complex near Avalon Airport.  

The move would improve Victoria’s chance of retaining the Grand Prix beyond the current contract as well as providing a facility that would enable the state to run the race under lights.  The proposed motorsport complex would be built on some of the 1821ha of land owned by trucking heavyweight Linfox. Linfox director Andrew Fox told the Sunday Herald Sun his family was prepared to foot the $200 million to build the circuit, meaning taxpayers would not be left to shoulder the cost.  A move to a permanent track would save taxpayers the estimated $32 million each year it costs to assemble and dismantle Albert Park’s temporary circuit.  

CAMS chief executive Graham Fountain said his organisation was given about $130,000 last year by the FIA to complete a facility master plan.  He confirmed CAMS was working in partnership with Linfox.  ”We, as part of the feasibility study, will be looking at a whole range of options and opportunities for a potential venue at Avalon,” Mr Fountain said.  “Whether or not Avalon will or will not be an international grade circuit remains to be seen. But certainly it is one of many considerations as part of the master plan process.” The study will be carried out by industry experts from the UK and could begin within months.  While the Government is aware of and supports the study, Sports Minister James Merlino, who met with Mr Fountain earlier this month, said: “A decision to relocate the race is ultimately up to Government, regardless of CAMS’s findings.” GLinfox last year completed its own feasibility study to build a motorsport complex on the land.  Mr Fox said his wish was for Government to utilise the motorsport facility as a driver education centre for young drivers when not in use for competitive racing. 

“You can build a permanent facility that beyond doing a three-day event can also house driver training where the Government should be putting funds for trying to eliminate accidents of P-platers and L-platers on Victorian roads because that is money well spent,” Mr Fox said.  “I’m happy to put the capital up on behalf of the family at Avalon and build a world-class standard.  “We’re building a start-of-the-art facility for the soccer and that’s unchartered waters yet we’ve had the Grand Prix here for so many years.  “Yes, you’ll never be able to replace the views of Albert Park, but you can still build one of the best race tracks in the world.”  

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