THE Albert Park grand prix had become much more than a sporting event for Melbourne, and the city would be a lesser place if the race went overseas, political leaders from both major parties said yesterday.

With Australian Grand Prix chairman Ron Walker scheduled to have talks with formula one supremo Bernie Ecclestone in London overnight on the future of the Melbourne race beyond 2010, the Government and Opposition made it clear they would fight hard to keep it.

And former Liberal premier Jeff Kennett, who was instrumental with Mr Walker in getting the race to Melbourne in the 1990s, said in recent years it had generated a new export industry.

"We have an open-air university that trains people in the conduct of major events, and does it very well," Mr Kennett told 3AW.

"Those people we have seeded to the United Arab Emirates in the Middle East, we have put them into China for this year's Olympic Games, and they are currently working in London.

"So it's not just a sporting event any longer — it's part of an open-air university that is giving thousands of Victorians the opportunity of education and employment opportunities well beyond the grand prix."

Tourism and Major Events Minister Tim Holding said he believed most Victorians wanted the Government to negotiate a new contract to keep the race.

Mr Holding said major events — including the grand prix, the AFL grand final, the spring racing carnival, the Australian Open tennis and the Winter Masterpieces exhibitions at the National Gallery of Victoria — had become this state's "key point of difference" with other destinations in Australia.

Mr Holding reaffirmed that the Government would not agree to hold the race at night.