SYDNEY, Feb 4, 2008 (AFP) - Organisers say the Australian Formula One Grand Prix will not bow to pressure from F1 supremo Bernie Ecclestone and switch to a night race, reports said Monday.

Ecclestone said in weekend reports Melbourne was in danger of losing the event it has staged since 1996 when its contract comes up for renewal after 2010 with more lucrative host cities being touted.

Part of Ecclestone´s pressure on local organisers and the Victorian state government is his reported demand for the race to be staged at night and made suitable for European television audiences.

Singapore will stage the first-ever Formula One night race on September 28 on a circuit of public roads.

But Australian Grand Prix Corporation chairman Ron Walker said there will be no night race in Melbourne amid mounting financial losses.

The Victorian government lost almost 35 million dollars (31.6 million USD) on the 2007 race and is budgeting for a blowout of more than 40 million dollars (36 million USD) for the season-opening race at Albert Park on March 16.

State Premier John Brumby has already cast doubt on the future of the race, saying it could become too expensive for taxpayers.

"If the Victorian Government can´t negotiate an economical settlement of this (new) contract, then there won´t be a race," Walker told The Australian newspaper on Monday.

"When it comes to paying too much money for an event the Victorian Government just won´t wear it.

"Everybody would like to keep the F1 race, but if it´s not viable, it´s not viable, and the government has to be responsible to its constituents. There will not be a night race."

Walker said his corporation had already reached a compromise with F1´s world governing body by pushing back the starting time of next month´s race 90 minutes.

"(But) to spend $60 million on lighting in Albert Park is just not on. If it´s all about money, then clearly Melbourne will lose the race," he said. "There comes a time when you can´t afford to pay these huge amounts of money for these events."

Walker said the possibility of a night race has been discussed with Ecclestone "a number of times and he knows we will not be doing a night race."

"Bernie is a great guy but also a very shrewd businessman. He´s fired his first shot in negotiations."

Victoria´s Major Events and Tourism Minister Tim Holding said the GP would stay in Melbourne provided it continued to represent value for money and was in the state´s best interests.