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No sponsor for Formula one Australian Grand Prix

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Formula 1 Australian GP, the 2nd race of the 2010 calendar, could cost local taxpayers tens of millions of dollars after it was exposed it has yet to safe a title sponsor.The occasion, which will be held in Melbourne’s Albert Park on March 28, was earlier supported by Dutch bank ING who withdrew in 2009. still with their backing, the race still made a US$40 million loss. Without a main sponsor being found in the next three months, that deficit is likely to be even higher.

Oganizer’s chief executive officer Drew Ward insisted the race will still go in front, adding labors to attract a backer were still a work in development.There won’t be any collision on the whole cost of the event in terms of overall sponsorship income, he told the Herald Sun. If you look back at this year’s event, general sponsorship interest was increased on previous years.Een though Melbourne usually occupies the opening spot on the calendar, in 2010 it will give up that to Bahrain, which last hosted the opening round in 2006 when Melbourne was tied up with the Commonwealth Games.

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