Australian GP contract extended

The Australian Grand Prix will remain on the streets of Albert Park in Melbourne until at least 2023, after Victoria State Premier Daniel Andrews confirmed an extension to the city’s race contract.

The news follows the announcement in August last year that the city had extended its F1 deal until 2020 and ends speculation that the race could move to Sydney – the goal of New South Wales Premier, Mike Baird, who announced his intentions to secure the race as part of his electoral campaign.

Reports indicate that Baird was interested in securing a three-year deal, which could have cost New South Wales taxpayers up to $180m to stage the event on a 5km circuit that included a run across the Sydney Harbour Bridge.

The 2014 Australian Grand Prix weekend attracted a crowd of 314,900.

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