The Formula One Australian Grand Prix: exploring the triple bottom line

This case highlights issues associated with the Formula One (F1) Australian Grand Prix held in the city of Melbourne, Victoria. The event receives substantial government funding and therefore the worth of the event receives consistent public scrutiny. Jim Kranger, CEO of the Victorian Major Events Corporation, is put in charge of assessing the value of the event to the State of Victoria. The results of Kranger's report will determine whether the government will continue to financially support the event. Kranger realizes that he must consider economic, social, political, and environmental issues. The case highlights the challenges that Major Events Corporations, and by extension, the government face in providing public funding to a sport event. The case also highlights the problems with economic impact studies and the need to focus on the triple bottom line approach by examining the economic, social, and environmental issues associated with the event. Further, the case highlights issues relating to the use of secondary data sources to make decisions. The case encourages students to consider the theoretical and practical issues at the cross-section of sport event, destination, and stakeholder management