Albert Park's current deal to host the Australian GP runs through to 2025 but an agreement has been reached to extend it by a further 10 years.

As part of the new deal, F2 and F3 will race in Australia for the first time, while they also have plans to develop the paddock area as well as the pit lane.

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Melbourne made its debut on the F1 calendar back in 1996 meaning its new deal will make it just one short of 40 years in 2035.

F1 raced in Australia for the first time in over three years as the 2020 and 2021 grands prix were cancelled due to the coronavirus pandemic.

During this time, organisers made significant changes to the track layout, making it considerably more high-speed to improve overtaking opportunities.

While the 2022 grand prix wasn’t too action-packed, the changes met the drivers’ approval.

Prior to its break, the Australian GP has been placed as the season-opener but earlier this year, it was the third round after Bahrain and Saudi Arabia. understands that the Australian GP is also unlikely to host the first race of the 2023 campaign. 

Speaking of the news, F1 boss Stefano Domenicali said: “I am delighted to confirm that Melbourne and the Albert Park circuit will continue to be on the F1 calendar until 2035. The race has always been a favourite for the fans, drivers and the teams and Melbourne is an incredible and vibrant international city that is a perfect match for our sport. 

“This year we saw huge crowds and passionate fans at the Grand Prix, and we are very excited by the future in Australia as our sport continues to grow. We are all looking forward to being back in Melbourne next season with all our fans.”

F1 is also likely to return to South Africa next year in place of either France or Belgium.