The collapse of Marussia isn't just a loss for Formula 1 and the team's various employees, but it will also have an impact on Ferrari and McLaren which are among 200... read more »

Melbourne has secured the Australian Formula One Grand Prix until 2020 after striking a new deal that will reduce the taxpayer subsidy of around $50 million a year, the head of... read more »

The Melbourne government hopes to renew its contract to host the Australian Grand Prix, which is set to expire in 2015, but only under more favourable terms. The event,... read more »

Nov.23 (GMM) Virgin's part-ownership by the British bank Lloyds is threatening to run the struggling formula one team off track. Part taxpayer-owned Lloyds bought an... read more »

The 2011 Australian Grand Prix reportedly lost (Aus) $50.23 mllion (£33.2m) for the first time since it came to city of Melbourne in 1996. The news read more »

A group of opponents against taxpayer funds going toward the Austin Grand Prix are suing Texas Comptroller Susan Combs in the hope they can block read more »

A group opposed to taxpayer funding the US GP in Austin are suing Texas Comptroller Susan Combs in a a bid to block a state subsidy for the race... read more »

In the wake of criticism as to the use of Texas taxpayer's money being used to fund the forthcoming United States Grand Prix in Austin, a leading economist insists the... read more »

As a row erupts over whether the Australian GP still represents value for money to the taxpayer, the future of one of the most popular events on the F1 calendar hangs in the... read more »

Lord Mayor Robert Doyle of Melbourne admits that his city could be likely to lose its Formula 1 race, which has been staged on the streets of Albert Park since 1996. Despite... read more »