End of Event
On the 30th of September 2011, it was reported that Hamilton City Council, the local governing body for Hamilton City where the race is held, chose to opt out of the Hamilton 400, with the final event due to take place in 2012. The council accepted a $1.25 million dollar payout from V8 Supercars Australia to renege on the seven-year contract. The event had reportedly been run at a significant loss in 2011, leading to the early-exit offer. Following an audit in 2011 the ex major Michael Redman resigned after allegations of unwise spending were proven.The report showed that the total cost to Hamilton was about $40million of which at least $3 million was unauthorized expenditure. The report criticized the city council for being secretive about the massive mismanagement. Then-CEO Tony Marryatt also came in for criticism, despite his defence of the event.
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“No event in American history is more misunderstood than the Vietnam War. It was misreported then, and it is misremembered now.”
—Richard M. Nixon (b. 1913)