The Melbourne Grand Prix Circuit is a street circuit around Albert Park Lake, only a few kilometres south of central Melbourne. It is used annually as a racetrack for the Formula One Australian Grand Prix, Melbourne 400 and associated support races. The circuit has FIA Grade 1 licence. In spite of being a circuit on public roads it has characteristics of a natural road course considering it being fast and flowing combined with extensive runoff in many corners.
The Australian Grand Prix has always been more of a promoter event than a profit-raiser in itself. The contract was prolonged until 2023, although tobacco advertising has been banned since 2007....LESS