Melbourne to continue host Australian Grand Prix until 2025

Melbourne will continue to host Australian Grand Prix until at least the end of 2025, Formula 1 announced on Thursday.

The race will take place from March 12 to 15 next year. The 2020 year will mark the 70th anniversary of the sport and its 25th visit to Albert Park.

An agreement between Formula 1 and the Australian Grand Prix Corporation was signed in London. Australia is part of the motor sport history as the country has been hosting Formula 1 World Championship since 1985. The tournament took place in Adelaide till 1995 but later moved to the Melbourne Grand Prix Circuit from 1996 edition.

The Australian Grand Prix has been the World Championship season opener except from 2006 and 2010. From the past two decades, the race in Melbourne has become one of the most popular sport on the calendar. More than 9,00,000 fans had turned up for the Grands Prix in the last three years alone which guarantees that the Formula 1 season commences in a festival-like spirit.

Formula 1 Chairman and CEO, Chase Carey said they decided to extend the agreement as the event has proved successful for the capital of Victoria, the country and among the fans and those who work in Formula 1."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.

Carey said the Formula 1 wants to make the Australian Grand Prix even more exciting and spectacular. He also added that it will help Formula 1 to celebrate at leadt 30 years in Melbourne in 2025.

"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 (July 18) 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," Carey added.