Phillip Island to host GP until 2011

The deal means that Phillip Island will hold the prestigious event until the end of 2011 and secures the event in Victoria for the time being.

Aussie MotoGP rider Chris Vermeulen was on hand for the announcement in Albert Park, which saw Premier Bracks address the strong media contingent that turned out.

"I am very please to announce some further developments in relation to the Motorcycle Grand Prix which has been staged in the State for some time," Premier Bracks said.

"It is a great coup that we have that security of that event here in Victoria until 2011 – it is great for motorsport, and great for Victoria as well."

Premier Bracks also noted the strong effect that the staging of the event at Phillip Island has on the local and Victorian economy.

"It is the biggest regional sporting event in Australia -- a major international drawcard which attracts almost 20,000 interstate and overseas visitors.

"It creates close to 2000 full time jobs as part of the staging of the event every year, it boosts our economy on the economic research by about $50 million a year, it also puts one of the most picturesque parts of Victoria, Phillip Island, on the world map, and showcases that to the rest of the world as well." Vermeulen flew in from overseas especially for the announcement, and commented on how enjoyable it is for him to be able to race in Australia given his hectic international commitments.

"It's great, Phillip Island is for me the big event of our year," he said.

"We have 17 races through the MotoGP season and of course coming home to Phillip Island is great.

"It is my first year in Grands Prix with Suzuki this season, and things have been progressing and going quite well - I've had two pole positions so far and not a podium yet, but I'm working on it and it'd be very special if I could do it at home.

"So I'm very excited with the news, and hopefully I can have a strong race down there."

The CEO of the Australian Motorcycle Grand Prix Corporation, Tim Bamford, said that the competition to stage the event was becoming evident, and as such the importance to secure a long-term arrangement as the host was paramount.

"We have seen a lot of new GP events come onto the calendar in places like Turkey and China, so we're not negotiating with third parties, but we do know that there are other parties out there trying to secure these events," he said.

"So those are the motivations to try and secure this for the long-term and really make sure that it stays here.

"Our team can be rightly proud that its ongoing efforts to deliver the world's greatest events have helped keep an iconic Australian event right here in Victoria."

The 2006 GMC Australian Motorcycle Grand Prix will be held at Phillip Island on September 15-17. See www.grandprix.com.au.