Melbourne have secured a new Formula 1 deal to keep the Australian Grand Prix at Albert Park until at least 2020.
The organisers confirmed the deal after a year long negotiation with Bernie Ecclestone’s Formula One Management. The deal was secured in London last week.
Premier of Victoria Denis Napthine hopes that rising Australian F1 star, Daniel Ricciardo will attract more fans to races at the circuit.
“Within this contract we hope to see Australia’s own Daniel Ricciardo win the Formula 1 Australian Grand Prix and become world champion,” said Napthine.
“I congratulate Australian Grand Prix Corporation chairman Ron Walker for his success as a tough negotiator in getting the best deal for Victoria.”
Melbourne has has held the season opener of the Formula 1 season since 2011 after the cancellation of the Bahrain GP and is set to once again kick off the 2015 season, next March.
