The current deal runs for a further three years, until 2025, and the 10-year extension is the latest in a series of announcements as established venues race to secure long-term contracts amid stiff competition for a place in the calendar of the category.
A third US race, in Las Vegas, has already been confirmed for November 2023, while F1 chief executive Stefano Domenicali visited Johannesburg between the Baku and Montreal races for further talks with the South African government over a race at Kyalami, with a possible date of April 2023.
It has emerged that Melbourne has faced domestic competition, including a bid from Sydney. The fact that the extension was signed with three years remaining on the current contract is an indication of the Victoria state city’s interest in securing its long-term future.
It has also made it clear that, as part of the deal, the Albert Park venue, which was first used in 1996, will be upgraded.
F1 noted: “Over the last two years, the promoter has made a significant investment to improve the circuit and will continue to improve the overall experience for fans and facilities, including the paddock and pitlane, at the circuit for years to come.” .
“This will enhance the fan experience, but also modernize the facilities for the teams, which will be essential to the smooth running of the event for the next decade.”
Unexpectedly, it has also been confirmed that from 2023 the FIA Formula 2 and Formula 3 championships will be part of the Melbourne weekend calendar.
Historically, travel costs have kept F1’s usual support teams away from Australia, and the promoter has had no problem filling the calendar with popular local classes. It remains to be seen how long the track will be available to them.
“The race has always been a favorite for the fans, the drivers and the teams,” said Domenicali. “And Melbourne is an amazing, vibrant international city that is a perfect fit for our sport.”
“This year we saw large crowds and passionate fans at the Grand Prix, and we are very excited for the future in Australia as our sport continues to grow.”
“This is a sensational announcement that is simply great for Melbourne and Victoria,” said event managing director Andrew Westacott .
“It builds on our rich motorsport history, as well as Melbourne’s love of major sporting events, and provides aspirations for the next generation of Australian racing stars.”
“We are proud of our strong relationship with F1 and together we will grow the sport in Australia and throughout the Asia-Pacific region. Everyone at the Australian GP Corporation looks forward to taking the F1 Australian GP to new levels in over the next 13 years.
Martin Pakula , Victorian Minister of Tourism, Sport and Major Events, highlighted the contribution of the race to the local economy.
“The Australian Grand Prix has never been bigger, with over 419,000 people flocking to Albert Park for this year’s race,” he said.
“We know how important this event is to our economy and that’s why we’ve achieved the biggest race extension since Melbourne.”
