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Formula 1 has signed a contract extension with the organisers of the Australian Grand Prix to keep the race at Albert Park until at least the end of the 2025 season.
Australia has hosted a world championship race every year since 1985, with Albert Park being the sole venue since 1996, following an 11-year stint in Adelaide.
Since the event in Melbourne joined the calendar, it has hosted the opening round of the season every year bar 2006 and 2010.
Earlier this month, F1 confirmed that Melbourne would once again host the first race of the 2020 season on March 15th.
“We are pleased to have renewed our partnership with the city of Melbourne, which will now host the Formula 1 Australian Grand Prix until at least 2025," said Formula 1 CEO Chase Carey.
"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 1.
"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."
Carey added that this announcement, along with the confirmation that the British Grand Prix had signed a five-year extension deal last week, shows the promoters' willingness to work with F1's commercial rights holders Liberty Media.
"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 1.
"We cannot wait to be back in Melbourne, from 12 to 15 March next year to celebrate the 25th anniversary of this race being held there and continuing a relationship which will also allow us to celebrate at least 30 years in the city in 2025.”
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good news