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Ecclestone backs Melbourne to keep F1 fee secret

  • Published on 18 May 2016 12:25
  • comments 3
  • By: Rob Veenstra

Bernie Ecclestone has joined the local state government in Australia in refusing to divulge the cost of the annual formula one race. The race fee paid by Melbourne organisers to the Ecclestone-led Formula One Management is picked up entirely by taxpayers, but Victorian sports minister John Eren argues the actual amount must remain secret.

"We're not in the business of giving rival cities around the world that want our flagship event a competitive advantage," he told the local Herald Sun newspaper. The report speculates the fee could be as high as US $38 million, but Ecclestone backed the government in keeping it a secret.

"I don't think there is any need to (inform taxpayers)," the 85-year-old said. "Why do we need to? It's all a private thing," Ecclestone added. Told that the taxpayers may object to the amount if it became public knowledge, he insisted: "I don't see it is anybody's business except the people that are party to the agreement." (GMM)

Replies (3)

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  • Hepp

    Posts: 200

    Oh, Bernie... Lately you are a walking oxymoron. If it is the tax-payers money, then it is their right to know. Oops I forgot, F1 has no value for democracy. Or should I say that Bernie's FOM disregards democracy for it's interest in capitalism.

    • + 1
    • May 18 2016 - 21:06
  • Nick13578

    Posts: 11

    Ah our premier Daniel Andrews, what a top bloke..
    Every year the people come out of the woodwork and complain about the GP for any reason you can think of, but in the end it brings way more money into our state than we spend on it.

    Still, the greenies complain their hearts out come March as always..

    • + 0
    • May 18 2016 - 21:25
  • Bernie is a dictator and dictators need to be assassinated.

    • + 0
    • May 19 2016 - 05:06

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