Future of Gold Coast 600 remains uncertain
The Armor All Gold Coast 600 faces an uncertain future beyond its current contract, which expires in 2013.
The Newman government is expected to slash funding across the state in a bid to reduce Queensland's $100 billion debt, with the $6.5 million annual taxpayer funding invested into the street circuit event a possible area to cut back on.
The event faced a recent government investigation into its costs/benefits as a V8 Supercars-only event with suggestions the government is looking into the prospect of enticing back the IndyCar fraternity or conversely pulling its support for the event.
"The Government will continue support for the race this year and is guaranteed into 2013 as well," said Queensland's minister for Tourism and Major Events Jann Stuckey at the 2012 event's launch.
"The mood of the Government is to support major events. We are very aware of making tourism one of the four pillars that we took to the election."
The state government will enter into negotiations with V8 Supercars over the event's future with V8 Supercars supremo Tony Cochrane confident the $55 million injection the event provides to the economy would justify the investment required.
"I'm very confident that this event will stand any sort of scrutiny going forward in the future," Cochrane said.
However, he stressed the event needed government support if it is to stay on the calendar beyond its current contract.
"No motorsport event on any street in the world, including Monaco, which has been going for a casual 60 years, could survive without the government helping out with the infrastructure costs," he said.
"We are finally starting to see some positive news around the event after the previous debacles.
"If the state government don't want it in our backyard then we will look at other venues.
"Really, it should be in a major capital city but we have committed to keeping it on the Gold Coast.
"If we were going to move, it would be to Sydney or Melbourne. We will go where other state governments are trying to attract events, like Victoria."
The 2012 Armor All Gold Coast 600 takes place on October 19 to 21.
2013 Championship Calendar
2013 Championship Points