The political economy of the supercars Newcastle 500 event

Abstract

Public/private partnerships staging urban motor-racing events promise a range of dubious ‘benefits’ to the host destination. These high-octane events are notorious for creating controversy over the disruptions they create. This study employs an investigative research method to explore the political economy of the Supercars Newcastle 500 in New South Wales, Australia. Results revealed how strategic misrepresentation and information asymmetry are used as tactics to avoid public scrutiny. The term ‘magic of major events mathematics’ is coined to explain how public expenditure is ‘hidden’ from public view, how costs are transformed into benefits, and how attendance numbers are ghosted. The research examines links between major events and touted leisure and tourism benefits as it questions the ethics of neoliberal governance practices.

Keywords

• Investigative research
• Information asymmetry
• Motor racing events
• Political economy
• Public/private partnerships
• Neoliberal governance