Motorsport Australia hikes licence fees

MOTORSPORT Australia has advised its members of a significant increase in the cost of a competitor’s licence for the upcoming 2024 season.

 

Citing insurance costs and inflationary pressures, Motorsport Australia president, Andrew Fraser, said the organisation was left with no choice but to bring forward a 15 per cent increase on its 2024 fees, which will now take effect from October 1.

 

“Inflation pressures, which most Australians are observing in general cost-of-living increases continues to impact individuals, businesses, and all organisations, including sporting organisations,” said Mr Fraser in an announcement to Motorsport Australia members.

 

“Motorsport Australia is certainly not immune to these challenges and cost pressures. Added to this is the reality of ongoing and significant increases in our insurance costs over recent years.

 

“To meet the challenge of these rising costs, Motorsport Australia’s board has brought forward a 15 per cent increase to our 2024 fees for licence holders and event organisers as of 1 October 2023.”

 

Mr Fraser said insurance costs had risen from $1.5 million annually in 2019 to more than $2.6 million in 2023 – and had increased by a significant $600,000 over last year alone.

 

“Put simply, the cost of our insurance has risen almost 60 per cent since 2019,” he explained.

 

“During this time, Motorsport Australia has been working to absorb these significant increases, particularly during the COVID-19 pandemic where we held our fees steady and offered free licence extensions to the majority of our licence holders in what was a very difficult time for everyone.

 

“Our operations have remained lean since this time and all staff have worked throughout 2020 and 2021 on reduced salaries to avoid having to pass on significant increases in our fees.

 

“As a member-based, not for profit organisation, the revenue we generate is utilised to invest back into the sport. A key priority as we look ahead is to invest in training, recruiting, and retaining Motorsport Australia officials to allow us all to continue to enjoy the sport we all know and love.”

 

Participants in some grassroots motorsport levels will also be required to undergo annual medical examinations to renew their licence for 2024, further adding to the cost of participation in the sport.

 

Mr Fraser said Motorsport Australia remained committed to serving its members and urged anyone with queries or concerns to contact the organisation directly.