Doubts raised over Melbourne's F1 future

Victoria Premier Ted Baillieu has refused to rule out scrapping Melbourne's Formula One grand prix when its hosting contract expires after the city's Mayor, Robert Doyle, called for the state to dump the race because of rising costs and lack of local interest.

Last year's Melbourne race cost taxpayers $50 million, but with Australian Grand Prix Chairman Ron Walker having extolled the virtues of the exposure generated by the race, Baillieu was non-committal when reporters pressed him at a press conference at the Australian Open tennis event for a response to Doyle's comments.

Premier Baillieu stated "we look forward to the grand prix performing financially better than it has and we will be looking to make sure that happens. I am confident we can reduce costs and we look forward to that happening."

Melbourne Lord Mayor Robert Doyle had earlier said the annual event at Albert Park, contracted to host the race through 2015, is no longer value for money.

"My judgment would be: get ready. Time's up," he wrote in the Sunday Herald Sun newspaper.

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