THERE will be no second track built at Mount Panorama after a feasibility study found the multi-million dollar project was not financially viable.
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The findings of the 200-page feasibility study by AECOM will be released today, but the Western Advocate can reveal there will be no good news for supporters.
Homebush Motor Racing Authority CEO Bryan Hardman said the State Government had decided to defer the project after the study found it would cost up to $47 million to design and build the track and more than $57 million to provide “essential infrastructure” to support the track.
And with no certainty that the new track could attract new international events to Bathurst, the government has shelved the plans for the short and medium terms.
“The study undertaken by AECOM has concluded that if you had to repay the capital expenditure for the second track you would need to generate $4.5 million annually,” Mr Hardman said.
“To do that you would need to attract two marquee international events like the Moto GP and Formula One races each year and attract crowds of 100,000 spectators.
“So what it really says is you need to make $4.5 million every year for 30 years – or a total of about $138 million over the life of the 30 years – to make it viable.
“The issue is that there’s no certainty of securing those international events because both the Formula One and Moto GPs are locked in at Phillip Island for a number of years yet.
“The unfortunate part is that the NSW Government has been forced to make this difficult decision.”
The news is sure to disappoint local supporters of the second track proposal, including members of the Bathurst Second Circuit Action Group who organised a community meeting to push for the second track and provided their own submission to AECOM.
But Mr Hardman said that even if the State Government agreed to fund the new track through a non-repayable grant, the figures still would not add up.
“Just to pay the operating and maintenance costs you would need to hire the circuit out for 100 days a year at $10,000 a day while also hosting a marquee international event.”
The push to build a second track at Mount Panorama has gained momentum in recent years after former Superbikes champion Allan Cunynghame released a detailed track design for the project.
The design actually provided two new tracks – the first a self-contained club circuit to be build adjacent to Conrod Straight and the second a competition circuit that would incorporate the lower sections of the existing track and the club circuit.
AECOM won a $250,000 tender to produce the feasibility for the State Government while HRMA facilitated the study and established the Mount Panor-
ama Infrastructure Steering Committee, comprising representatives from NSW police, Bathurst Regional Council, the Confederation of Australian Motor Sport and other interested parties.
