I was sent an exclusive which had been printed in the Australian Herald Sun newspaper, in which the fee for the right to stage the Grand Prix in Melbourne was released.
The Herald Sun Melbourne stated, “Victorians are paying more than $30 million (that is around 900 million baht) a year for the right to host the Formula One Grand Prix under a top-secret deal with billionaire Bernie Ecclestone.
Bernie E the Godfather.
“The Herald Sun has seen Grand Prix documents that reveal the overall cost of Mr Ecclestone’s licence fee – kept secret by four successive state governments for almost two decades – for the five-year contract is close to $170 million.
“The documents, dating from 2010, expose an ‘escalator’ clause in the contract that sees the license fee rise by five percent annually – regardless of how the Albert Park event fares.
“In revelations that have sparked renewed debate about the race, the documents show the license fee climbs from $US31 million in 2011 to almost $US38 million in 2015.”
So, all is revealed! You want a Grand Prix? Bernie wants 900 million baht, rising to one billion baht in three years. He really is the heart and soul of generosity, isn’t he! (And where does the under the table come from?)
Remember too, that is just the fee for the rights, the actual costs in making the circuit, barriers and Singapore style lighting is on top.
