The current deal is valid for another three years until 2025, and the 10-year extension is the latest in a series of announcements as established venues rush to sign long-term contracts amid fierce competition for a spot on the sports calendar.

The third U.S. race in Las Vegas has already been confirmed in November 2023, while Formula One Director General Stefano Domenicali visited Johannesburg between Baku and Montreal to hold further talks with the South African government on a race in Kyalam, possibly dated in April 2023.

Melbourne is believed to have faced domestic competition, including a Sydney bid. The fact that the extension was signed for the three years remaining before the current contract is a testament to how much the Victorian city has sought to secure its long-term future.

It also became known that the agreement will upgrade the site of Albert Park, which was first used in 1996.

“Formula 1” noted: “Over the past two years, the promoter has made significant investments in upgrading the track and will continue to improve the overall experience and fan facilities, including the paddock and pit lane, on the track in the coming years.

“It will improve the fans’ experience, but also upgrade the facilities for the teams that will be needed for the event to run smoothly over the next decade.”

It was unexpectedly confirmed that from 2023 the FIA ​​F2 and F3 championships will be part of the weekend schedule in Melbourne.

Historically, travel costs have kept the usual series of Formula One support away from Australia, and the promoter has had no problem filling the schedule with popular local categories. It remains to be seen how much time for the tracks will still be available to them.

Max Ferstappen, Red Bull Racing RB18

Photo: Andy Hon / Drawings of motorsport

“The race has always been a favorite for fans, riders and teams,” said Domenicali. “And Melbourne is an incredible and vibrant international city that is perfect for our sport.”

“This year we have seen huge crowds and ardent fans at the Grand Prix and we are very excited about the future of Australia as our sport continues to grow.”

“This is a sensational message that is just great for Melbourne and Victoria,” said event CEO Andrew Westakot.

“It draws on our rich history of motorsport as well as Melbourne’s love of great sporting events and provides a drive for the next generation of Australian racing stars.

“We are proud of our strong relationship with Formula One, and together we will develop the sport in Australia and the wider Asia-Pacific region. Everyone at Australian GP Corporation is looking forward to bringing F1 Australian GP to the next level over the next 13 years ”.

Martin Pakula, Victoria’s Minister of Tourism, Sports and Major Events, highlighted the race’s contribution to the local economy.

“The Australian Grand Prix has never been so big, with more than 419,000 people gathering in Albert Park for this year’s race,” he said.

“We know how important this event is for our economy, and that’s why we’ve had the longest extension of the race since it took place in Melbourne.”

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