Formula One news

Australian Grand Prix suffers €20 million loss

The organisers of this year's Australian Formula 1 Grand Prix ran at a € 20.4 million loss a report tabled in the Victorian parlement shows. The report showed that the revenue from the Grand Prix decreased from € 28.1 million in 2006 to 25.6 million this year.

According to the organisers of the Australian Grand Prix the losses were attributed to dwindling ticket sales and sponsorship revenue Australian newsagent AAP reports.

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