The city of Melbourne will host the Australian Grand Prix until at least 2020, it emerged Sunday.
The race will also keep its spot as the season opener of the F1 world championship.
Premier of Victoria Denis Naphtine spoke enthusiastically about the new deal.
"This is a terrific announcement that reaffirms Melbourne and Victoria as the sporting and events capital of the world," he told the 3AW radio station.
"We've secured a great deal for the people of Victoria that's a better deal than the existing deal. The new deal is on the same terms as the existing contract in that it will be the first race of the season, it will be in March each year."
Melbourne has been hosting the Australian Grand Prix since 1996, the year the event moved from Adelaide.
The race will also keep its spot as the season opener of the F1 world championship.
Premier of Victoria Denis Naphtine spoke enthusiastically about the new deal.
"This is a terrific announcement that reaffirms Melbourne and Victoria as the sporting and events capital of the world," he told the 3AW radio station.
"We've secured a great deal for the people of Victoria that's a better deal than the existing deal. The new deal is on the same terms as the existing contract in that it will be the first race of the season, it will be in March each year."
Melbourne has been hosting the Australian Grand Prix since 1996, the year the event moved from Adelaide.
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| Albert Park circuit (Photo: WRi2) |