It was announced in the local Press today that a $650 million motor sport complex is to be built between Bris Vegas and the Gold Coast. It will be set up for night racing and hopes to wrest F1 from Melbourne when their contract runs out in four years. Part of release below.

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A FIELD near the Gold Coast will become the epicentre of motorsport in the southern hemisphere with a proposed $650 million complex set to lure the world's top racing.
The project involves building a motorsport enclave on canefields on 400ha near Norwell, between the Gold Coast and Brisbane, and is expected to inject millions into the Queensland economy and create 5000 jobs.
It is also a bold bid to wrest Formula One from Melbourne.
``This project is what we have needed for a long time ... we need something more than just club venues," race legend Dick Johnson said.
``Queensland is starved for motor racing, and this will be a world-class facility that is not just about motor-racing events but about the whole business around it.''
A world-class international motor racing complex is only weeks away from final approval.
The project is called i-METT (Integrated Motorsport Education Tourism and Technology).
Its first big event, a leg of the World Rally Championship, has already been sealed with Rally Australia, blasting off from the Gilberton-Norwell site, 38km south of Brisbane, from September next year.
There also is a compelling case for Formula One to be lured away from Melbourne's Albert Park circuit, which costs the Victorian Government tens of millions of dollars each year.
Project bosses say the complex has been designed so that major events do not have to be underwritten by the state.