REMEMBER WHEN

GOLD COAST BULLETIN Saturday, October 23, 2010

AN international race series would not return to the Gold Coast after Premier Anna Bligh ruled out spending more than $6.5 million on the event.

She was backed by V8 Supercars boss Tony Cochrane, who said he would not ask for more funding.

The revelations came as Ms Bligh toured the Surfers Paradise precinct on the opening day of the GC600.

Ms Bligh said the V8 Supercars’ three-year project would have to meet the Government’s high expectations to keep the funding it had.

It is a far cry from the $12.5 million which used to be invested for the Indy Carnival. When asked whether she would consider topping up the event during the three-year rebuilding phase Ms Bligh was clear.

“There’s no request for that to increase. The three-year arrangement is very clear about what is expected,” she said.

“We have set the V8 Supercars series a very high hurdle.

“We want this event to be a success. We are going to continue to invest in it because it is great for the Gold Coast economy but it is going to have to meet our expectations.

“So far it is looking good.” Mr Cochrane said Indy would not return to the Gold Coast in the next 100 years and endorsed the Government’s decision not to fill the coffers with more funds.

“I told the Premier we will save them at least six million, they used to spend $12.5 million,” he said.

“We’ve cut that in half and I’ve given a commitment that we will wear the brunt of that. I’m a man of my word.”