Melbourne extends F1 race deal

The Formula One motor-racing series has reached an agreement to continue staging the Australian Grand Prix in Melbourne until at least the end of 2025.

The new two-year deal was signed in London between F1 and the Australian Grand Prix Corporation.

Australia has hosted an F1 event since 1985, with Adelaide staging a grand prix until 1995, when Melbourne assumed hosting rights. Melbourne has hosted the season-opener every year since, with the exception of 2006 and 2010.

The Australian Grand Prix is one of the most popular on the F1 calendar, with more than 900,000 fans having turned out over the past three years. Next year’s event is due to take place from March 12-15.

The deal comes after F1 last week confirmed that Silverstone would continue to host the British Grand Prix until at least 2024.

Chase Carey, chairman and chief executive of F1, 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. Today’s announcement follows on from last week’s, relating to the British Grand Prix and is proof that more and more promoters are sharing our long-term vision for the future of Formula One.”