Brazil set for Rio de Janeiro switch in 2020

Rio de Janeiro will host the Brazilian Grand Prix from 2020 onwards, according to Brazil's president.

Doubt has lingered over the future of the current race at Sao Paolo for some time, as it is struggling to keep up with the costs of hosting the event.

Brazilian president Jair Bolsonaro stated at a press conference on Wednesday that he had consulted and signed with Rio’s governor Wilson Witzel and its mayor Marcelo Crivella over switching to the ocean side city.

MORE: Rio de Janeiro expresses interest in F1 race

The track that is yet to be built is likely to be located in Deodoro, which is home to a military base. The part of the track that has been offered to F1 has been given up by the army.

President Jair Bolsonaro said: "The management of F1 has decided to maintain a Grand Prix in Brazil, but Sao Paulo has become impractical because of the event’s public financial support and the debt that exists over there.

“The new racetrack will be built in six or seven months. The hotel sector will be happy, the state economy as well since it will generate six or seven thousand jobs. It is good for both Rio de Janeiro and Brazil.”

Rio de Janeiro last hosted a Grand Prix in 1989 at the Jacarepaguá circuit. However, it was demolished in preparation of the 2016 Summer Olympics.