Formula One news

Melbourne GP makes $130m

Australia's grand prix in Melbourne generated about $130m (US) in 2005 alone, the local grand prix corporation said. The Melbourne organisers claimed that the figure originated in an independent report, showing the economic benefit for the state of Victoria.

'AGPC' chairman Ron Walker said the figure was an 83 per cent increase since the first Melbourne race in 1996, but an opposition group - called 'Save Albert Park' - poured scorn on the grand prix' claim. "It's a gross and ludicrous exaggeration," Peter Goad told Melbourne's 'The Age' newspaper.

But the independent 'National Institute of Economic and Industry Research' had compiled the report after surveying nearly 3000 people at the season opener in March.

Subject to FIA approval, Melbourne will host round 3 of the unpublished 2006 F1 calendar next year, on April 2.

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