Full Throttle

The Australian GP, a staple on the countries motor racing calender for 25 years, looks likely headed for India, Russia or Korea.

F1 boss Bernie Ecclestone says Melbourne’s contract for the race, due to be held at the Albert Park circuit in March, has little chance of being renewed beyond 2010.

“Maybe we don’t want to be in Australia,” he said. “Our costs are very high in Australia and we get a lot less money. It’s bloody bad for us.

“We’ve got quite a few places on the list which would like to have Formula One and as it seems your guy (Victorian Premier John Brumby) down there doesn’t want Formula One, we can make him happy and make the other people happy.”

Mr Brumby has previously raised doubts about the race, which has been steadily losing money - more than $120 million since the city lured the event from Adelaide in 1996.

Mr Ecclestone, who has not yet discussed the future of the race with Australian Grand Prix chairman Ron Walker, said manufacturers and sponsors supported a move.

He said there would be strict conditions if Melbourne did succeed in retaining the race.

“In Melbourne, if we were to continue to be there, we would have to have a night race,” he said. He also ruled out any other Australian state hosting the race.

UPDATE: The Victorian Government and Australian Grand Prix chairman Ron Walker have rejected speculation Melbourne is in danger of losing its Formula One car race because it is not financially viable.