It was announced on Thursday that the Australian Grand Prix will continue to be held at Albert Park in Melbourne until 2025. This follows an agreement between Formula 1 and the Australian Grand Prix Corporation. The Albert Park venue has been hosting F1 races since 1996. 

Chase Carey, Chairman and CEO, Formula 1, said: 
“We are pleased to have renewed our partnership with the city of Melbourne, which will now host the Formula 1 Australian Grand Prix until at least 2025. 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. 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. Today’s announcement follows on from last week’s, relating to the British Grand Prix and is proof that more and more promoters are sharing our long-term vision for the future of Formula 1. We cannot wait to be back in Melbourne, from 12 to 15 March next year to celebrate the 25th anniversary of this race being held there and continuing a relationship which will also allow us to celebrate at least 30 years in the city in 2025.” 

Martin Pakula MP, Victorian Minister for Tourism, Sport and Major Events, said: 
“This is a fantastic vote of confidence from Formula 1 to continue racing in Melbourne until at least 2025. Victoria hosts major events better than anywhere else in the world and I’m excited that Formula 1 has chosen to exercise its option to extend the contract and enable the Victorian Government and the Australian Grand Prix Corporation (AGPC) to continue to deliver more world-class events for Victoria. The Formula 1 Australian Grand Prix has contributed significantly to Melbourne’s standing as a global sporting and major events capital and the event is a key pillar of Melbourne’s and Australia’s international sporting calendar. 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.” 

In more good news for Formula 1, they’ve agreed a new deal with Silverstone to keep the British Grand Prix on the calendar until 2024. Ahead of the 70th anniversary of the first Grand Prix held at Silverstone next year, it’s great news for the loyal British fans, too.  

Chase Carey, Chairman and CEO, Formula 1, said: 

“We are really pleased to confirm that the British Grand Prix will stay on the FIA Formula 1 World Championship calendar for at least the next five years, with the event remaining at its longstanding home, Silverstone circuit. We have always said that, if it is to have a long-term future, our sport must preserve its historic venues and Silverstone and Great Britain represent the cradle of this sport, its starting point back in 1950. Today, Formula 1 is a global sport, held on five continents, watched by an audience of over 500 million fans around the world and our aim is to grow this number by bringing the sport we love to new countries, while also maintaining its roots: Silverstone and the British Grand Prix are an integral part of that vision.” 

John Grant, Chairman of the BRDC, said:  

“Silverstone is one of the most iconic Grands Prix on the F1 calendar and with such a rich heritage it would have been disastrous for the sport and fans had we not managed to find a way forward. 2020 will be the 70th anniversary of the first round of the World Championship which took place at Silverstone on 13th May 1950 and will make next year’s event all the more special. This is great news for the BRDC, Silverstone and Formula 1 - and for millions of British motor racing fans.”