“We expect that this is going to occur. We are very close with F1 and have a relationship that goes back decades. We have a relationship that will see us host the event here until 2025, and we want to look to the future as well.

“We are happening next year and it will continue to happen. Our remit is to look beyond 2025.”

However, Westacott, a vastly experienced motorsport executive, knows that permanence is never guaranteed.

For years there was no French Grand Prix, despite that country having a pivotal position in motorsport history, while The Netherlands, another country with deep roots in the sport’s history, was only restored to the calendar this year.

“There are always bids, and always forays from major events ministers and offices in various countries and cities around the world - they would not be doing their job if they were not reviewing their options.

“You can’t take your eye off the ball and you can’t be complacent in the world of major events. We are not complacent. It will be three years between events when April comes around, so our job is to make sure that everyone gets behind the event and it shows it’s worth for the Victorian visitor economy.”

The Seven report claimed high-level discussions had begun but did not specify whether that was internally, within the NSW government, or with F1 officials.

It also pointed out the logistical difficulties of actually staging a “Monaco” style race around the Rocks and the inner harbour area, difficulties that could be a major planning nightmare and a huge stumbling block.

This is not the first time that Sydney has been touted as a potential suitor for F1. Every few years the idea is mentioned but usually fades from view.

Whether the impact of the pandemic and government policies will change that position remains to be seen.