A group of motorcycle racers round a corner on their bikes.

The Australian Motorcycle Grand Prix has been held on Phillip Island since the 1990s. (Daniel Munoz: Reuters)

An announcement on the future of the Australian Motorcycle Grand Prix is expected as soon as tomorrow, amid widespread speculation the event is set to shift to South Australia.

Victoria’s confirmation that this year’s MotoGP will be the last to be held at Philip Island has left South Australia in pole position to snatch the event.

The decision came 24 hours after the Victorian government offered the operator additional funding to keep the race at Phillip Island.

Were the event to shift to South Australia, it could potentially be hosted on the Adelaide Street Circuit — home to a major V8 Supercars race — or at The Bend Motorcycle Park at Tailem Bend, 100 kilometres from the CBD.

Speculation that the MotoGP event might be coming to SA has circulated for a while due to tensions over the negotiations between the race owners and the Victorian government.

An announcement is expected in Adelaide city tomorrow.

The South Australian government has been contacted for comment.

Shane van Gisbergen and Scott McLaughlin sit in front of two Supercars on a track.

The Supercars Adelaide Grand Final is currently held at Adelaide Street Circuit in Victoria Park. (ABC News: Lincoln Rothall)

Race owners Dorna Sports, recently rebranded as MotoGP Sports Entertainment Group, wanted to move the event from Phillip Island to the Albert Park Street circuit where the Formula 1 race is held.

The contract for the motorcycle grand prix at the Phillip Island track is set to expire this year.

Today, the Victorian government confirmed that negotiations had broken down and this year will be the last MotoGP in that state.

“In any negotiation, you have to draw a line; otherwise, you’re not worth anything,” Victoria’s Minister for Sports and Events Steve Dimopoulos said.

“The line we drew is we were backing regional Victoria and Phillip Island, and the line that they drew obviously was, ‘If you’re not moving it to Albert Park, we’re out.’”

A motorcycle grand prix has been held on Phillip Island since the 1990s, attracting tens of thousands of visitors to Gippsland’s Bass Coast.

If SA were to become the new host, it could be seen as revenge on the Victorians after they poached the Formula One Grand Prix from Adelaide in the 1990s, which was held at Victoria Park, east of the CBD.