The Australian Grand Prix will remain at Melbourne until at least the end of 2025 after Formula 1 Management confirmed a two-year extension on its current deal.
The Albert Park Circuit became the host of the season-opening round of the world championship in 1996. The 2020 F1 season will begin at the circuit in March.
It has held every season-opening race in the intervening period with two exception, in 2006 and 2010 when the honour went to Bahrain. Melbourne took over from Adelaide as the venue for Australia’s F1 race.
“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,” said Formula 1 CEO Chase Carey.
“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.”
Victorian Minister for Tourism, Sport and Major Events Martin Pakula said the decision was a “vote of confidence from Formula 1”.
“Beyond the direct benefits to Melbourne and Victoria arising out of Formula 1’s decision, the contract extension until 2025 also provides benefits and confidence for Victoria’s events industry and the associated supplier base to the AGPC. Additionally, it provides the AGPC with opportunities to further enhance and develop the event for the benefit of all fans and lovers of the sport of Formula 1.