The Czech Republic will remain on the MotoGP calendar for at least the next five years.

Despite boasting the highest attendance of any event last season, with 240,695 weekend fans, Brno has faced persistent financial problems in recent years - culminating in the circuit suspending ticket sales for this year's race.

The latest financial problems were caused by 'difficulties in receiving finances from the public sector for the 2014 and 2015 grand prix'.

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MotoGP commercial rights holder Dorna stepped to save this year's race, but warned the event would not return in 2016 unless a new agreement was reached with the 'competent authorities and circuit... guaranteeing the long-term financial viability of the grand prix' by August 16th.

Today it was duly announced that Dorna has reached a deal with the Czech authorities to secure the Czech GP 'for at least the next five years' and will lead to the creation of a new body acting as the promoter of the event and working alongside Dorna Sports.

Dorna CEO Carmelo Ezpeleta declared: "The Czech GP is one of the highlights of the Championship as it's been on the calendar for 50 years and as we see this weekend again, it's a very popular event.

"We are very happy to reach an agreement with the Czech authorities that will ensure the future of the Grand Prix in the Czech Republic for at least the next five years."

Katerina Valachova, Czech ministry of Education, Youth and Sports, added: "We're proud to announce that Brno will host MotoGP again in 2016 and the four following years, thanks to the creation of a new public body involving the Meridional Moravia Government and the City of Brno."

The first Czechoslovakian Grand Prix was held in 1965 on the original 13.94 km road course, while the current circuit has been part of the calendar for all but one season since 1987.

The only venue to have hosted more grands prix than Brno is Assen.

Brno's new deal will increase speculation that Indianapolis is to be dropped from the 2016 calendar, to make way for a return to Austria.