Melbourne will host the Australian Grand Prix until 2035 Formula 1 and local organisers announced on Thursday.
The a new deal will also see Formula 2 and Formula 3 added to the schedule for the first time next year.
The current contract for the race at Albert Park was due to expire in 2025 and Sydney had expressed an interest in taking it on.
Melbourne joined the calendar in 1996, taking the place of Adelaide, and Formula One will have been there nearly 40 years by the time the latest deal ends.
More than 419,000 fans attended this year’s race in April, the largest crowd ever for a weekend sporting event in Australia.
Melbourne not expected to return as season opener
The race, which was not held in 2020 and 2021 due to the COVID-19 pandemic, has been a season-opener but was third on this year’s calendar.
It is not expected to return to the prime slot taken by Bahrain, although Australian Grand Prix Corporation boss Andrew Westacott told Reuters in April that he wanted the race to be held early in the season.
Formula 1 CEO Stefano Domenicali said the race had always been a favourite for the fans, drivers and teams.
“Melbourne is an incredible and vibrant international city that is a perfect match for our sport,” he added.
The paddock and pit lane facilities will be upgraded as part of the deal. (Reporting by Alan Baldwin)
It’s official! 🏎️@F1 will remain in Melbourne until at least 2035 with @Formula2 & @FIAFormula3 joining the on-track action from 2023 🇦🇺#F1 #F2 #F3 #AusGP pic.twitter.com/yEoWYq3Do3
— F1 Australian Grand Prix (@ausgrandprix) June 15, 2022