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Formula One, Australian Grand Prix add another ten years to their deal

Starting next year, the new deal would also introduce affiliate races Formula 2 and Formula 3 to the racetrack.

Formula One has extended its deal with the Australian Grand Prix for another ten years, ensuring that the race will take place in Melbourne until 2035.

The existing agreement with the Australian Grand Prix Corporation (AGPC) would run out in 2025. Since 1996, Melbourne has staged Formula One. Adelaide and Sydney, among other Australian cities, had indicated willingness to participate in the race.

Starting next year, the new deal would also introduce affiliate races Formula 2 and Formula 3 to the racetrack for the very first time. The paddock and pit lane shall likewise be upgraded, according to the organizing committee.

Martin Pakula, Minister for Tourism, Sport and Major Events for the Victorian Government, said, “The Australian Grand Prix has never been bigger, with more than 419,000 people flocking to Albert Park for this year’s race.

“We know how important this event is to our economy and that’s why we’ve delivered the longest extension for the race since it has been held in Melbourne.”

This season’s Grand Prix, held in April, received the largest weekend attendance in the race’s history, with 419,000 spectators across four days. The 2020 race was abruptly cancelled before the Friday training session, as fans waited in line to enter the Albert Park site, after a member of the McLaren crew samples were tested positive for Covid.

Formula 1 President and CEO, Stefano Domenicali said, “The race has always been a favourite for the fans, drivers and the teams and Melbourne is an incredible and vibrant international city that is a perfect match for our sport. This year we saw huge crowds and passionate fans at the Grand Prix, and we are very excited by the future in Australia.”

Andrew Westacott, CEO of AGPC, said, “This is a sensational announcement that is simply great for Melbourne and Victoria. It builds on our rich motor sport history as well as Melbourne’s love of big sporting events and provides aspiration to the next generation of Aussie racing stars. We’re proud of our strong relationship with Formula 1 and together we will grow the sport in Australia and the broader Asia-Pacific region. Everyone at the Australian Grand Prix Corporation looks forward to taking the Formula One Australian Grand Prix to new levels over the course of the next 13 years.”

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