|© AP Photo/Andrew Brownbill
Formula 1 boss Bernie Ecclestone is willing to sign a long-term contract for the Australian Grand Prix to be staged at Melbourne dispelling the notion that the event could be held at another venue Down Under.
Melbourne’ deal to host the Grand Prix runs out in 2015, with other Australian cities having expressed their interest to run the event. Adelaide used to hold the Australian GP earlier.
"Everybody loves Australia, loves Australian people and it's good to be there because it's the first race, it's nice, it's relaxed," Ecclestone said. "We hope we're going to be in Melbourne forever, although I understand we do get a little bit of criticism and I don't know why.
"I'd be happy to sign a 50-year contract. So we don't have a problem with Melbourne," he added.
Local critics of the Grand Prix have reasoned that the event is not viable for the state citing the costs involved to host the race has been too much for its coffers.