MotoGP rider going around a corner on his motorcycle

The 2025 Australian Motorcycle Grand Prix will be the last held at Phillip Island. (AAP: Joel Carrett)

The Australian Motorcycle Grand Prix will be held at the iconic Phillip Island circuit for the last time this year.

The decision comes 24 hours after the Victorian government offered additional funds to keep the MotoGP event at Phillip Island.

Minister for Sports and Events Steve Dimopoulos confirmed the state government would not budge on the event organiser’s request to move the event to Melbourne’s Albert Park.

“We know that we could have kept [the race] in Victoria, had we sold out Phillip Island. We were never willing to sell out Phillip Island,” Mr Dimopoulos said.

“We met every other request. We met the licence fee, we met everything else, in fact, went beyond it.”

Mr Dimopoulos said he was aware of where the race would be held beyond 2027, but would not reveal that information.

“I do. I’m not telling you. It’s not my news to share,” he said.

A man celebrates winning the grand prix at phillip island

The new home for the Australian Motorcycle Grand Prix has not been announced. (AP: Andy Brownbill)

Bass Coast Mayor Rochelle Halstead said the news was disappointing, but she hoped the state government would commit funds to fill the economic void left by the race.

“We are very, very disappointed and are turning to the government to look to an event that will be of the same calibre,” she said.

“It doesn’t need to be in motorsport, it can be in the arts or in music. That’s what we’ll be looking at.

“This will leave a very large economic hole, especially for our small businesses.”

A 2023 economic impact report showed the annual event was worth more than $29 million to the state’s economy and supported 284 full-time jobs.

Aerial photo of the Phillip Island grand prix track.

Phillip Island was home to the MotoGP for almost 30 years. (Supplied: Ading Attamimi)

‘Desperately disappointing’

Mary Aldred, federal Liberal member for Monash — an electorate which includes Phillip Island — said the loss of the race was a tragedy for the Phillip Island economy and community, and she would explore options to support the region in the wake of the loss.

“I’ll be investigating that federally with a number of federal government ministers to see what can be done, but this is a major event. It’s a major generator of revenue, of jobs, of economic activity,” Ms Aldred said.

“We’ve got the infrastructure there. We’ve got a world-class track ready to be used, and it is just such a shame that the Victorian government has seen this flight to another state or another country, but it’s desperately disappointing.”

MotoGP Sports Entertainment Group has been contacted for comment.