Formula 1 and the Australian Grand Prix Corporation have agreed on a new ten-year contract for the race in Melbourne
Formula 1 will contest an Australian Grand Prix until at least 2035. Rights holder Liberty Media announced the contract renewal with the Melbourne promoter late on Wednesday night
“The Australian Grand Prix has never been more popular,” said Martin Pakula, Victorian Minister for Tourism, Sport and Major Events. “This year 419,000 spectators came to Albert Park for the race. We know how important this event is to our economy. That’s why we’ve delivered the longest contract extension in the history of the race in Melbourne.”
The contract between the Australian Grand Prix Corporation (AGPC) and Formula One follows on from the previous agreement, which runs until 2025, and includes a significant change. As a result, Formula 2 and Formula 3 will also race as part of Formula 1’s supporting programme at Albert Park from as early as 2023.
Melbourne has been an integral part of the Formula 1 calendar since 1996 and is considered one of the most popular locations among drivers, teams and media representatives. The AGPC has already started to invest in improving the track in the last two years and will also renovate the paddock and pit lane in the next few years.
The date on which the 2023 race will take place has not yet been decided.
