The Brazilian Grand Prix is set to stay at Interlagos until at least 2025 with local officials closing in on a new deal for the circuit to continue to host Formula 1 races.

On Thursday the Sao Paolo mayor and governor of the state both confirmed that the Interlagos circuit is about to sign a new five-year contract with F1.

While the news has not been officially communicated by F1, local officials have announced the impending contract renewal to shore up the future of the Brazilian Grand Prix.

"I am proud to reveal that F1 has just renewed a contract to hold the Brazilian GP until 2025,” said Sao Paolo governor Joao Doria at a press conference held on Thursday.

"The Interlagos race track has been confirmed as the venue for the next five years.

"The contract will be signed by Mayor Bruno Covas and Liberty Media, the rights holder of F1.”

It is understood that the event would be known as the Sao Paolo Grand Prix.

It marks a huge boost for the Sao Paolo venue, which has staged the Brazilian Grand Prix every year since 1990 and has been included on the provisional record-breaking 23-round 2021 F1 calendar.

The future of grand prix racing at Interlagos was under serious doubt following a fallout between the circuit promoter - who is close to former F1 boss Bernie Ecclestone - and F1 owners Liberty Media.

Interlagos was due to hold its last race in its current contract this year before the event was cancelled due to the coronavirus pandemic.

A push for the Brazilian Grand Prix to move to a new purpose-built facility in Rio de Janeiro for 2021 then followed.

However, the planned development in the Deodoro area has hit a major stumbling block due to requiring environmental approval before work can begin. The controversial project has faced opposition from environmental groups and F1 world champion Lewis Hamilton.