Sydney - Olympic Park deal done - 3 more years

[kittle]

http://www.dailytelegraph.com.au/spo...-1226716406951

Looks like this deal is done and signed off on a further 3 years...

SYDNEY Olympic site at Homebush will be the home to V8 motor racing for the next three years under a multi-million dollar agreement to be revealed today.

The new boss of V8 Supercars, former television executive James Warburton, negotiated the deal with the NSW Government that could include a twilight race finishing at 8.30pm.

Talks are under way with broadcaster Channel 7 about prime coverage which would provide another massive boost to Australia’s fastest growing spectator sport.

Under the agreement, the grand final round of the Supercar championship series will be staged at Homebush each December until 2016 with an option for a further two years.

It is believed to be worth around $12 million to V8 racing.

[fomoco]

good to see some stability, just read the article at least they know where they are for the next three years

[mickyv8]

Good result for new management............and all the more harder to achieve than without V8 Supercar's best friend Sir Lunchalot, Minister for Massages with Happy Endings!

[Umai Naa]

Originally Posted by kittle

It is believed to be worth around $12 million to V8 racing.

Richard Mork will be happy

[GTRMagic]

Originally Posted by fomoco

good to see some stability, just read the article at least they know where they are for the next three years

D.R.T will be heartbroken

Another good job from mr Warburton and his team, they are getting a reputation for being 'closers' which is what you want from a category management team...

[D.R.T.]

Originally Posted by GTRMagic

D.R.T will be heartbroken

Another good job from mr Warburton and his team, they are getting a reputation for being 'closers' which is what you want from a category management team...

Heartbroken might be a little too far but I am fairly perplexed by such a decision.

Hopefully the Government can release further details as to the investment over 3 years (increased, decreased etc) as previous discussions focused on the failure of the event to hit any of its KPI's it was funded against from 2009 - 2012. Considering accountability for government expenditure & particularly sport in recent times you would think this would be a high priority.

This information should help make more sense of the announcement.

[GTRMagic]

Originally Posted by fomoco

good to see some stability, just read the article at least they know where they are for the next three years

Story Here

While the pre-season test day will also be at Eastern Creek for 2014, 2015 & 2016

[eduardo1]

At least this time their projections of tourists and economic benefit seems a little more realistic.

The old '100,000 interstate visitors and $350m injection a year' has been drastically reduced to 5K and $50m - and that's probably over the 3 years.

But interestingly there's no details about costs. What exactly does 'worth $12m to V8SA' mean? Is that what the Govt is paying directly to V8SA, does it subsidise certain expenses they have, or what they're willing to guarantee if there are losses by V8SA? As a NSW taxpayer that requires more clarity for me.

But, if the Govt is truly only spending $4m a year on this event - that's fair enough for me.

Clearly V8SA see it important enough to use it as a loss-leader, hoping the losses they suffer on the event are covered by the better TV deal they'll get in 2 years time by having a big event in Sydney.

There's also no mention of whether they'll still be bringing in concerts or whether the twilight race is now the big attraction to replace it. Given a significant proportion of ticket buyers only came for the concerts (and that was what was promoted on TV - you'd barely know there was a race), how much impact will that have on the gate?

But the twilight race option is a great one. Hopefully they run it this year and see how it goes.

[DAVID PATERSON]

Originally Posted by kittle

Talks are under way with broadcaster Channel 7 about prime coverage which would provide another massive boost to Australia’s fastest growing spectator sport.

Funniest thing I've read all day.

Originally Posted by Umai Naa

Richard Mork will be happy

That comes second.

Originally Posted by GTRMagic

While the pre-season test day will also be at Eastern Creek for 2014, 2015 & 2016

That's a good thing.

[Tourer]

Originally Posted by D.R.T.

Heartbroken might be a little too far but I am fairly perplexed by such a decision.

Hopefully the Government can release further details as to the investment over 3 years (increased, decreased etc) as previous discussions focused on the failure of the event to hit any of its KPI's it was funded against from 2009 - 2012. Considering accountability for government expenditure & particularly sport in recent times you would think this would be a high priority.

This information should help make more sense of the announcement.

Agree that it's likely there'll be more info released but it sounds like a reduced investment from the previous level. Makes sense as there's a lot of cost in the first build of any such event which is not repeated and that cost would have been amortised over the length of the original contract.

It'd be good to see a report about the KPIs and missing them over the first four years DRT, I can recall an AG report after the first event but haven't seen anything since. As I suggested some time ago, missing KPIs might not be a big problem for the guvmint provided that some level of attainment is reached - all it means is that the investment is reduced in line with the reduced attainment and it certainly sounds like that is the case this time.

Clearly both parties feel that it's an event worth keeping and hopefully they can jointly build it up further in the next few years.

Personally I'm not sold on the twilight race idea but it DOES bring positives and might just give the event a really special atmosphere.

[D.R.T.]

Originally Posted by Tourer

It'd be good to see a report about the KPIs and missing them over the first four years DRT, I can recall an AG report after the first event but haven't seen anything since.

The attendances have decreased consistently since 2009 (using V8SA released numbers, so god only knows) - following the AG report which highlighted all the economic impact and cost/benefit analysis shortcomings.

A report into the following 4 years would be excellent however one cant imagine interstate & overseas travellers increased whilst overall numbers decreased.

[peckstar]

actually DRT im not actually sure if you have read the report. maybe just one papers opinion i think

What a great day for Sydney and motorsporr fans in NSW

Planning on going in 2014

[eduardo1]

Originally Posted by peckstar

actually DRT im not actually sure if you have read the report. maybe just one papers opinion i think

What a great day for Sydney and motorsporr fans in NSW

Planning on going in 2014

While I'm not getting too hung up on KPIs etc, it's quite obvious that the event has delivered nothing even close to what it promised. The published numbers have dropped every year over the first four years and in almost every year the Saturday has been bigger than the Sunday - hence the big question with the twilight event about the concerts which were the big draward, not the race.

The TV ads and most other promotions focused almost exclusively on the concerts. In the week leading up you'd have people asking about the 'Insert Band' concert at Homebush. Tell them there was a V8 race on and they were surprised.

I've gone to every race day of each event and last year's was significantly smaller crowd than previous years. Areas that were bottlenecks in the first couple of years were free flowing last year.

And the biggest proof that they didn't hit targets - the new Govt significantly revised downards their claims and (going by the $12m figure) have reduced their spend on it by 30%.

I said five years ago that if the Govt commitment was a genuine $6m a year then as a taxpayer that was ok. I'm saying the same now.

But I also said that the claims that the Govt was basing its decision on were completely fanciful and ridiculous. They had accepted V8SA figures with absolutely no due diligence. After ICAC, we know now why.

The new Govt now has real figures to base their decision on. They think it's worth keeping, for less money. Fair enough.

The Homebush event is more of an 'ends justifies means' (sort of) event. It should never have been allowed to happen because of the BS and the corruption, but we have got a decent event out of it.

Now it needs to prove that it's sustainable. It needs a revamp, of which the twilight race is but one part. If the downward trend continues, then it won't survive past 2016.

[pigs fly]

Originally Posted by D.R.T.

The attendances have decreased consistently since 2009 (using V8SA released numbers, so god only knows) - following the AG report which highlighted all the economic impact and cost/benefit analysis shortcomings.

A report into the following 4 years would be excellent however one cant imagine interstate & overseas travellers increased whilst overall numbers decreased.

I for one won't ever go to this race, will go to Eastern Ck ( Sydney Motorsport Park) anytime.

[Mixer]

Originally Posted by pigs fly

I for one won't ever go to this race, will go to Eastern Ck ( Sydney Motorsport Park) anytime.

Your nick represents when most V8Supercar fans will go to EC.

As much as some of you here seem to love EC (and I love the track for its racing), you can't argue that the fans have voted with their feet about the track, whether its for the location, the stink, the facilities, the sun, you name it, you just don't pull a crowd with the V8s at EC.

[Buckshot]

Originally Posted by Mixer

Your nick represents when most V8Supercar fans will go to EC.

As much as some of you here seem to love EC (and I love the track for its racing), you can't argue that the fans have voted with their feet about the track, whether its for the location, the stink, the facilities, the sun, you name it, you just don't pull a crowd with the V8s at EC.

You accidentally left the big $$$ to get in and the useless parking off the list.

[eduardo1]

Originally Posted by Buckshot

You accidentally left the big $$$ to get in and the useless parking off the list.

Might not have been an accident, given Homebush is much worse in both those areas. Minimum $20 a day to walk a very long way and the ticket prices are much steeper.

[GTRMagic]

But it doesn't stink!

[Axeman444]

it was stinking hot...

[one five five]

Will the Sydney event be continuing with the "Rock and Race" format?
The ads for this year have been conspicuous by the absence of seemingly of a Saturday night concert...which back in 2009 was touted as part of the major draw to the event.

[D.R.T.]

And no event sponsor

[GTRMagic]

Originally Posted by one five five

Will the Sydney event be continuing with the "Rock and Race" format?
The ads for this year have been conspicuous by the absence of seemingly of a Saturday night concert...which back in 2009 was touted as part of the major draw to the event.

Would have thought the racing finished too late to start a concert afterwards....

[one five five]

Originally Posted by GTRMagic

Would have thought the racing finished too late to start a concert afterwards....

The concerts had always started before the main race had finished anyway. I remember a few years back James Reyne playing to about 20 people while the race went on in the background...

The race is touted as finishing at 7.30pm, and Jimmy Barnes didn't go on until after 8 last year, so i don't see a reason why they shouldn't have one.

A shame if the concert part is done away with, i've been to all since 2009 and they definatly added to the event, and no doubt brought more people to the event as a whole. I wonder what has changed, the concerts were considered crucial back when the event was launched?

[D.R.T.]

Money saving

[yap]

For the next 24 hours (could be less now), it is buy 1 ticket get 1 free on 3 day passes

One way to boost crowd numbers and attempt to justify the NSW Govt's funding (apart from the usual V8 Supercars counting methods)