• Latest
  • Trending

True loss of cancelled Australian GP won’t be known for months

April 24, 2020

Motorsport Diary: Kiwis racing overseas this weekend

September 18, 2025

Another exciting season of motorsport at Teretonga Park

September 18, 2025

Toby McCormack returns for another season in NZ Formula Ford

September 18, 2025

Zeltwanger looking to maintain blistering winter form

September 17, 2025

Palmer the one to beat heading to Rally Waitomo this weekend

September 17, 2025

TRS and Formula Pacific cars running under exciting new format for 2025/26 season

September 17, 2025

Nick Cassidy to race with Citroën in Formula E while balancing WEC drive with Peugeot

September 17, 2025

Cormac Buchanan battles through tough Misano weekend in Moto3 rookie season

September 16, 2025

Ryan Yardley and David Musial Jr. claim victory in Porsche Endurance Challenge at Road Atlanta

September 15, 2025

Tough weekend at the Bend for Giltrap and Osborne in Porsche Carrera Cup

September 15, 2025

Scott McLaughlin secures historic podium for JMR at Suzuka 1000km

September 15, 2025
Thursday, September 18, 2025
VelocityNews
Be the first to know and subscribe for real-time updates on Kiwi drivers, events and much more!
Subscribe to New Alerts
  • International
    • Formula 1
    • Formula 2
    • Formula 3
    • Formula E
    • Esports
    • Super GT
    • Super Formula
    • TCR
    • WEC
    • GT
    • Porsche Carrera Cup
    • BTCC
    • DTM
    • IMSA
    • IndyCar
    • Road to Indy
    • NASCAR
    • WRC
    • MotoGP
    • Motorcycle Racing
    • Historic Racing
  • New Zealand
    • Toyota Formula Regional
    • Toyota GR86 Championship
    • Rally
    • Speedway
    • Drifting
    • Formula Ford
    • Formula First
    • TCR NZ
    • TransTasman V8 Series
    • V8 Utes
    • GT New Zealand Championship
    • GTRNZ
    • Central Muscle Cars
    • Pirelli Porsche
    • Mazda Racing Series
    • NZ Endurance Championship
    • NIERDC
    • SIERDC
    • Pro8 South Island Series
    • SsangYong Utes
    • Kartsport
    • NZ Historic Racing
    • NZ General
  • Australia
    • Supercars
    • Super2
    • Australian V8 Touring Car Series
    • Porsche Carrera Cup Australia
    • Porsche Sprint Challenge
    • S5000
    • Australian GT
    • TCR AU
  • Features
    • Features
    • Opinion
    • Profile
    • Race Cars
  • Circuit News
  • Velocity TV
  • Performance Cars
  • Jobs
    • Jobs
    • Post a Job
    • Job Dashboard
No Result
View All Result
VelocityNews
No Result
View All Result

True loss of cancelled Australian GP won’t be known for months

by Zane Shackleton
April 24, 2020
in Formula 1, International, News
0

Chief Executive of the Australian Grand Prix Corporation, Andrew Westacott admits that the full loss of the cancelled Australian GP back in March won’t surface for “a number of months.”

The traditional Melbourne season opener costs the AGPC and Australian Government in excess of $100 million annually. The event has come under fire in the recent past from critics complaining over the cost of the race as well as the use of the public space in Albert Park to host it.

But this year’s 25th iteration of the event was cancelled at the eleventh-hour amid Covid-19 concerns, and a rescheduling of the event is incredibly unlikely to occur.

In an interview with Australian news outlet AutoAction, Westacott conceded that the true loss of the cancellation will not be known for several months.

“What we are working through at the moment is a very complex set of close-outs with stakeholders, with customers, with fans, with suppliers, with media partners and that’s all being stepped through at the moment,” Westacott told Auto Action.

“The final cost is not going to be known for a number of months. It’s much more complex than if the event had run its normal course.”

Despite losses expected to be as much as $100 million, Westacott did confirm that insurances were in place to help forestall some of the loss.  

“We have insurances in-place and we are working through those insurances in the normal manner.

“That will not cover every outgoing and every cost, but there are appropriate insurances in-place and so we are working through that and working closely with government on it.

“Our job is to ensure each situation is worked through fairly.”

Original interview conducted by AutoAction.com.au

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ADVERTISEMENT
ADVERTISEMENT
  • About
  • Advertise
  • Privacy & Policy
  • Contact Us

© 2022 VelocityNews - Independent New Zealand and International Motorsport news.

No Result
View All Result
  • International
    • Formula 1
    • Formula 2
    • Formula 3
    • Formula E
    • Esports
    • Super GT
    • Super Formula
    • TCR
    • WEC
    • GT
    • Porsche Carrera Cup
    • BTCC
    • DTM
    • IMSA
    • IndyCar
    • Road to Indy
    • NASCAR
    • WRC
    • MotoGP
    • Motorcycle Racing
    • Historic Racing
  • New Zealand
    • Toyota Formula Regional
    • Toyota GR86 Championship
    • Rally
    • Speedway
    • Drifting
    • Formula Ford
    • Formula First
    • TCR NZ
    • TransTasman V8 Series
    • V8 Utes
    • GT New Zealand Championship
    • GTRNZ
    • Central Muscle Cars
    • Pirelli Porsche
    • Mazda Racing Series
    • NZ Endurance Championship
    • NIERDC
    • SIERDC
    • Pro8 South Island Series
    • SsangYong Utes
    • Kartsport
    • NZ Historic Racing
    • NZ General
  • Australia
    • Supercars
    • Super2
    • Australian V8 Touring Car Series
    • Porsche Carrera Cup Australia
    • Porsche Sprint Challenge
    • S5000
    • Australian GT
    • TCR AU
  • Features
    • Features
    • Opinion
    • Profile
    • Race Cars
  • Circuit News
  • Velocity TV
  • Performance Cars
  • Jobs
    • Jobs
    • Post a Job
    • Job Dashboard

© 2022 VelocityNews - Independent New Zealand and International Motorsport news.