The Victorian government has defended the staging of the Australian F1 grand prix after figures reveal it had to fork out millions of dollars to cover the costsMelbourne’s Formula One grand prix cost Victorians nearly $62m in 2015,but the government says that is the price of international exposure.
Expenditure again dwarfed revenue in 2015, forcing the state government to fork out $61735000 to cover the difference.
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Source: theguardian.com