Australian Grand Prix will continue to be on the Formula 1 calendar until 2035.
Melbourne will continue to host the race after a new deal was agreed upon that will also see Formula Two and Formula Three added to the schedule for the first time next year, Formula One and local organizers announced on Thursday.
The current contract for the race at Albert Park was set to expire in 2025 with Sydney expressing an interest in taking the job on.
Melbourne joined the racing calendar in 1996 taking over from Adelaide and would have hosted a Formula One race for nearly 40 years when its new contract expires.
This year’s Australian GP was a smashing hit with more than 419,000 fans attending this year’s race in April, the largest crowd ever for a weekend sporting event in Australia.
The race was not held in 2020 and 2021 due to the COVID-19 pandemic and was the third on this year’s calendar after being a season opener before.
It is not expected to return to that prime slot that has been taken by Bahrain, although Australian Grand Prix Corporation boss Andrew Westacott wants the race to be held earlier in the year.
Formula One CEO Stefano Domenicali said the race had always been a favorite for the fans, drivers, and teams.
“Melbourne is an incredible and vibrant international city that is a perfect match for our sport,” he added.
Under the new agreement, the paddock and pit lane facilities will be upgraded as well.