F1 for Sydney, laps of George St with 31 watering holes, and all for $80m? A steal

You don't get much for $80m these days. Two houses in Melbourne, 200 in Adelaide, a block of flats in Manhattan, a night out in Sydney and if you're Lance Stroll, a drive in F1. But if you believe the rumours, and I don't, that's what the NSW government might be prepared to pay to prise the annual race around Albert Park to Sydney.

Now, of course, all the talk is about what a spectacle it would be for viewers from overseas to see the F1 circus in the Monaco of the south. You know: Harbour Bridge, Opera House, Crown Casino (if still licensed), pancakes on the rocks, the cast iron pissoir at Millers Point and the concrete monstrosity of an expressway that blocks the view of the world's most beautiful expanse of water.

At a meeting of the (unofficial) FI Sydney Advisory Council (SAC) at the (unofficial) race headquarters, the Hero of Waterloo hotel (1843) in The Rocks, it was decided that to highlight all that is good about Sydney, the race would go up and down the city's main drag (if I may call it that) George Street.

Now I understand that this would mean only two tight corners (at either end of the street) but it does allow pit crews to be stationed at every one of the 31 pubs and entertainment venues. Don't be stupid, we're not suggesting the drivers stop for a drink! No, a FIA approved and trained glassy would be required to bring a schooner out to each driver.

Some years ago, The Herald Sun exclusively revealed that the overall cost of the five-year Melbourne F1 contract was $50m for the 2015 year. For some reason, four successive state governments had kept this secret for almost two decades. So, post-Covid you would expect the bastions of Bleak City would be sending F1 owners Liberty Media Corporation (NASDAQ: FWONK, $80 last close) an annual cheque for $70m.

Liberty Media, the owners of F1, are "committed to our vision and strategy to grow and continue to evolve our sport", F1 CEO Stefano Domenicali told us on the Liberty Media third quarter earnings call last week. "All good," the analysts on the phone said, "but when are you going to make some money?"

As a race driver, not being able to see where you are going doesn't have many advantages. If you want to see just how skilled these steerers are, have a look at a replay. My pick for driver of the F1 session was Alpha Tauri's Pierre Gasly and I now hate to admit Mad Max will take the world championship but Mercedes will take the constructors' championship (even though their cars are underpowered sixes).