The Phillip Island Grand Prix Circuit is widely regarded as one of the best circuits in the World. Phillip Island is located about 130Km South of Melbourne. Racing on the island originally commenced in the 1920's until 1935, 2Km from the current circuit. In 1951 a group of local businessmen decided it was time to re-establish motor racing at Phillip Island and build Australia's first Grand Prix circuit. Building commenced in 1952 and the circuit finally opened in December 1956. The track held several events each year until it was closed in 1962 due to extensive track damage.
A Melbourne businessman purchased the venue in 1963 with a view to redevelop the track - it reopened in 1966. Racing continued at the venue, however during the 1970's, the number of events declined due to further track damage. The venue was purchased by Placetac in 1985 and was again redeveloped in 1988 after it was awarded a round of the World Motorcycle Championship.
Phillip Island hosted Australia's first round of the 500cc World Motorcycle Championship in 1989 with Wayne Gardner winning the race in front of over 90,000 fans. The race was lost to Sydney's Eastern Creek in 1991 after it was outbid by the NSW Government. The track staged its first round of the Shell Australia Touring Car Championship in 1993, the venue continues to host what's now known as the V8 Supercars Series.
After a six year absence, Phillip Island won back the 500 cc World Motorcycle Grand Prix in 1997, and in 1998 Mick Doohan won his fifth World title in front of 75,000 fans. The circuit continues to host the Australian MotoGP. Other major events held at the circuit annually include the Superbike World Championships and V8 Supercars.
The Phillip Island Grand Prix Circuit was purchased by Linfox in 2005. The venue's facilities will be significantly upgraded in a $300 million redevelopment to bring it up to world standards. Features include a major upgrade and extension of the existing infrastructure including pitbuilding, race control and media centre; the contruction of a cliff top 18 hole golf course designed by Greg Norman; a five star resort hotel featuring 1175 rooms; a complete makeover of the circuit entrance; and a state of the art permanent office, club and corporate facility at the end of the main straight.