Could V8 Supercars return to Canberra? Liberals say it's a 'no-brainer'

The Canberra Liberals say a returned V8 Supercars event would inject $50 million into the local economy, and that’s a “conservative figure”.

Touting a “comprehensive business and tourism package”, the party said it planned to basically bring back the ‘Canberra 400’, but this time, based at Exhibition Park in Canberra (EPIC) in Mitchell and with minimal outlay costs.

How will this be different from last time?

Those around in 2000 will remember the Canberra 400 when V8 Supercars romped around the Parliamentary Triangle over three days in June.

The Liberal chief minister of the time, Kate Carnell, had pushed for it based on the success of the Adelaide 500, and it was expected to cost the taxpayer $4.5 million in the first year and then $2.5 million every year afterwards.

Three years into the annual championship, however, an ACT Auditor-General’s report cut it short. This found the government spent $7.7 million in 2000 and $5.1 million in 2001, while revenue was down at $4.5 million and $4.1 million, respectively.

“Actual net direct financial costs of conducting the 2000 and 2001 races were greater than the government’s original expectations,” a report read.

It was also held in the middle of winter. But since then, it seems any mention of plans to bring it back has been jeered. But not by three locals going under the name of ‘Turcin Avis’. With the help of V8 Supercars – who had basically agreed, “build it and we will come” – they presented a 10,000-word proposal to the government in November 2022.

Seven months later, however, Chief Minister Andrew Barr told a budget estimates hearing the proposal “didn’t stack up”.

He said the government would need to spend “tens of millions of dollars”, an investment it was “not in a position to make”.

The proposal’s designers argued they were “very mindful” of the event’s history in Canberra, which is why they had couched their plans within the existing masterplan for EPIC with minimal modifications.

And it was a masterplan ACT Labor appeared to have already budgeted for because, in the lead-up to the 2020 election, they promised a new 10,000-square-metre indoor venue at EPIC.

With standing room for 1500 people (1000 seated), Mr Barr had said it would cater for large multicultural performances and private events, such as weddings, and would also be available to regular EPIC users like Summernats, the National Folk Festival and Royal Canberra Show.

“If re-elected, ACT Labor will start the detailed design work and commence construction in the next term of government,” he said at the time.

In the case of V8 Supercars, this would become a pit area. But come October 2024 and the $21 million project is nowhere to be seen.

In response to questions, an ACT Labor spokesperson told Region the existing Fitzroy Pavilion has been “upgraded and refurbished to meet this need”.

This space has capacity for between 875 and 1752 people, depending on the occasion.

The upgrades included more toilets, a larger kitchen with refrigeration, preparation spaces and servery, insulation of the ceiling and walls, and a new heating and ventilation system.

The cost of this was not disclosed.

The V8 Supercars proposal is now in the hands of the Canberra Liberals, and MLA Leanne Castley expects a cost of $12 to $13 million to make it work at EPIC and a return of more than $50 million per event.

The outlay includes modifying existing facilities, as well as widening and resealing the internal roads.

“Supercars is streamed to 137 countries with millions of viewers,” she told Region.

“It blows my mind we don’t have it in the ACT yet.”

According to Supercars Australia, its 2023 events contributed a total of $445 million to economies across Australia.

The last Adelaide 500 in November 2023, which would be similarly sized to any Canberra reboot, delivered a “record $61.6 million benefit to the South Australian economy”, according to the state government. This compares to $51 million in 2022 and $38 million in 2021.

Of the ACT’s two largest events, Summernats 2023 brought in 130,000 attendees and $43.6 million, and the combined effect of Floriade and Nightfest in 2023 was a total of 433,271 visitors and $51.1 million.

“Yes, the last race was here, but that was in winter, and there was no overtaking – it was a fairly boring race,” Ms Castley says.

“But this one is a no-brainer.”