The costly myths behind the Grand Prix – a guest appearance

Peter Logan, president and spokesperson for Save Albert Park Inc., responds to Liberal Shadow Minister for the Environment Nick McGowan’s recent comments in TWiSK, the local City of Port Phillip paper, on Albert Park

The article – “LIBS ALARMED BY YEARS OF NEGLECT” (TWISK 26 June)-  by Liberal Shadow Minister for the Environment, Nick McGowan, regarding Albert Park needs addressing.

McGowan’s statement that Melbourne’s Formula 1 Australian Grand Prix “sells” Albert Park to “over 400 million viewers worldwide” is wrong – and misleading. This “400 million” figure is for an entire F1 season’s viewing, not just for the Melbourne event. The Australian Grand Prix Corporation  admitted this in 2018 to Save Albert Park.

For two decades, successive Victorian Premiers, Labor and Liberal, from Jeff Kennett to Daniel Andrews, repeatedly boasted the GP Corporation’s false global audience claims of 350 million to 500 million for the Melbourne event. The real figure back then was 15 million to 20 million.

Grand Prix contract extensions have been based on highly inflated “international exposure” claims without any evidence that the Grand Prix is ‘value for money’.

McGowan is one of many who still do not bother with Grand Prix facts.

The Shadow Environment Minister states: “Albert Park Lake should be one of Melbourne’s greatest urban environmental assets. We desperately need to start treating it like one.” Indeed.

GP contract extensions have only ensured further neglect of this much used and much-loved, inner city public park.

In recent years, government slashed $95 million from Parks Victoria’s budget – as well as larger cuts to other essential services, like Health and Education.

The Victorian Labor government does not have the money. The Victorian Liberal opposition does not have the answers.

In 2025, in the Victorian National Parks Association’s newsletter, the Executive Director, Matt Ruchel wrote: “ the Victorian Government’s approach to parks and public land management is veering into dangerous territory. Slashing funding, gutting expertise, and dodging long-standing commitments, all while spinning a narrative that defies reality. This is the new normal for parks in Victoria.”

Why does Victoria have no money?

Jeff Kennett promised the Grand Prix would not cost Victorians one cent. This foreign-owned business has lost more than $1 billion already and $3 billion in losses by the end of the current contract in 2037.

Kennett also got it wrong when he claimed Grand Prix disruption would be for four days only. Yes, this event is run over four days, but it causes chaos and disruption to locals, to commuters, to the local sports clubs and to some businesses. The sports clubs say that they are negatively impacted for up to five months every  year. They say that they lose financially and socially and no-one is listening.

Do you hear that Mr McGowan? And all those other Liberal and Labor MPs who continue to support an event that overwhelmingly benefits F1? Do some homework and watch the YouTube video “How F1 Bankrupts Cities” by Plain Capital. Cities that host an F1 do not benefit. Melbourne is no exception, as proved by the Auditor General’s cost benefit analysis.

Imagine what government could do with the $100 million plus the GP loses every year.  

Imagine possible improvements to the park: Repair the lake and protect its flora and fauna. More trees, more shade in summer and more wildlife with better protection. Better lighting and safety. More drinking fountains……

Mr McGowan needs to confess he has misled the public and he needs to say how Albert Park can improve and where this funding would materialise.

Labor and Liberal MPs need to come clean as to why they continue to support a perennial, loss-making event that supports F1, not Victorians.

Peter Logan is President and spokesperson for Save Albert Park Inc.