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The Victoria State Government has secured the long-term future of Australia's flagship motorsport venue.

Minister for Tourism and Major Events John Eren today announced the Labor Government had locked down the Australian Motorcycle Grand Prix until 2026, and the Australian round of the FIM Superbike World Championship until 2027.

The two events are among world motorsport’s most anticipated fixtures, attracting visitors from all over Australia and the world. They keep Phillip Island’s bars, restaurants and hotels busy, and provide new opportunities for Gippsland’s tourism operators and small businesses.

The Australian Motorcycle Grand Prix and the Phillip Island round of the FIM Superbike World Championship are key contributors to Victoria’s economy. The MotoGP™ race delivers a $48.5 million economic benefit to Victoria, while the FIM Superbike World Championship adds $20 million annually.

An estimated 85,000 spectators converged on Phillip Island for the 2015 Pramac Australian Motorcycle Grand Prix, while more than 42,000 turned out for the 2016 Superbikes. It’s why the Bass Coast Shire Council estimates motorsports events on the Island are worth $107 million to the local economy.

The Labor Government has now locked dwon three of Victoria’s marquee motorsports events, after last year securing the Formula 1® Australian Grand Prix until 2023.

The Labor Government has allocated an additional $80 million to Victoria’s major events war chest, so that we can continue to secure the biggest and best events.

Minister for Tourism and Major Events, John Eren: “Our motorsports events at Phillip Island are flagship dates on our calendar, and they’re going nowhere. Phillip Island will remain at the centre of world motorsport for many years to come.”

“These events create a unique buzz around Phillip Island, attract visitors to Victoria from all over the globe, and show the world we have the best of everything.”

Member for Eastern Victoria, Harriet Shing: “Thousands of motorsports fans from around the world flock to Phillip Island every year, and for good reason. It’s a great track, and competition is fierce”

“It’s fantastic that the excitement and adrenalin of these major events will be on show, with Gippsland’s beauty front and centre – inspiring many people to travel here and see the Island for themselves.”

DORNA Chief Executive, Carmelo Ezpeleta: “The Australian Motorcycle Grand Prix and the FIM Superbike World Championship have a strong history at Phillip Island, and have become part of the Island’s fabric. I am delighted the Victorian Government has decided to continue this longstanding, mutually beneficial relationship.”