Australian F1 Grand Prix: Dead & Buried?

Melbourne, Australia — Formula One supremo Bernie Ecclestone has almost completely dashed any hopes of Melbourne, and quite probably Australia, retaining a Grand Prix in three years time when the current contract ends.

Unless Melbourne held the race at night, the current contract that ends in 2010 will not be renewed says F1's top dog, Mr Ecclestone.

Country's such as Russia and India have been suggested as replacements for the Australian F1 Grand Prix venue.

"Our costs are very high in Australia and we get a lot less money," Mr Ecclestone told the Herald Sun newspaper.