Formula One has announced that the Australian Grand Prix has extended its hosting contract for a further two years, keeping the race in Melbourne until at least 2025.
The event, which currently serves as the global motorsport series’ season-opening Grand Prix, will continue to be held at the city’s Albert Park circuit after a new agreement was signed in London by Formula One and the Australian Grand Prix Corporation.
Australia has staged a Formula One round since 1985, with Melbourne replacing Adelaide as the host of the event in 1996. Since then, apart from 2006 and 2010, the city has held the opening Grand Prix of the season.
Chase Carey, chairman and chief executive of Formula One, said: “ The decision to extend the current relationship for a further two years stems from the fact this event has proved to be a resounding success for the capital of Victoria, for Australia and indeed around the world, proving immensely popular with fans and those who work in Formula One.
“Working along with our partner, the Australian Grand Prix Corporation, we plan to make the Australian Grand Prix even more exciting and spectacular, as a sporting event and as a form of entertainment.”
The announcement comes one week after Formula One agreed a new hosting deal with Silverstone to keep the British Grand Prix at the historic Northamptonshire circuit for a further five years.
Next year’s Australian Grand Prix has already been confirmed as the opening race of the 2020 Formula One season. The race is scheduled to take place on 15th March, with the series celebrating its 70th anniversary.