F1 trackThe Australian Grand Prix could continue beyond 2015 with a permanent circuit in Melbourne, Formula One boss Bernie Ecclestone has strongly hinted.
Ecclestone admits Melbourne should have constructed a purpose-built track for the race years ago - but says it could still happen.
F1 Racing trackA state-of-the-art F1 circuit could be the key to keeping the Australian Grand Prix in Melbourne beyond its current contract due to expire in four years.
Ecclestone said in retrospect both he and Grand Prix Corporation chairman Ron Walker agree that when the GP moved to Melbourne from Adelaide in 1996 it should not have been run at the Albert Park street circuit.
Racing trackHowever, he said he was still open to the idea of constructing a new track, which would indicate the race contract could be renewed when it expires in 2015.
"Of course," Ecclestone said, "Ron and I have spoken about this a long, long time ago and I suppose in reality it would have been the right thing to do.
"It would have been 10 years ago or whatever and it would have been built cheaper than it would be today.
"But of course we would (consider it)."
Bernie EcclestoneCosts of erecting and taking down tonnes of infrastructure to transform Albert Park into an F1 circuit have been estimated at up to $A14m.
Ecclestone said that Australia was as vital to the series as Formula One's showcase Monaco event and he would not like to see the event go, but would not quibble if the Victorian Government could not bear the annual losses.
"Australia is as important to us as Monaco," Ecclestone said. "It's part of the world championship and has been for an awful long time.
Bernie Ecclestone"We'd hate to think that we're going to lose Australia.
Bernie Ecclestone"In the case of Melbourne, if the product is too expensive for them, we understand that and when the contract comes to an end there's no need to renew it.
Bernie Ecclestone"We wouldn't force somebody to buy something that they don't want or think is too expensive.
Bernie Ecclestonedon't buy the product.
