The Australian Grand Prix is set to remain at the Albert Park circuit in Melbourne until at least the 2023 season after agreeing a new contract with Formula 1 Management.
The contract initially was set to run until 2020, but the new deal being FOM and the Victorian government has safeguarded the race at the venue for another three years.
The venue has hosted the Australian Grand Prix since 1996, when Damon Hill took victory ahead of Williams-Renault team-mate Jacques Villeneuve, having replaced the Adelaide street circuit on the calendar.
The news was broken by the premier of Victoria, Daniel Andrews on his official Facebook page, saying: “The Australian Formula 1 Grand Prix is here to stay exactly where it belongs, in the great city of Melbourne.”
Albert Park hosted this season’s opening race of the season, which was won by Lewis Hamilton, and is set to open the 2016 season next April.