Interlagos will continue to host Formula 1 for another five years, with the race being renamed the Sao Paulo Grand Prix.

Brazil appeared set to move its round on the calendar from its traditional Sao Paulo venue to a new purpose-built track in Rio de Janeiro for 2021, but the deal hit a snag following environmental campaigning against the new circuit being constructed.

Following the delays, F1 thrashed out a new deal with Interlagos - which has staged the Brazilian Grand Prix every year since 1973 - to keep grand prix racing at the Autodromo Jose Carlos Pace until at least 2025.

The deal was signed off and announced on Wednesday after the World Motor Sport Council officially approved a record-breaking provisional 23-round 2021 calendar.

Farewell To Formula 1 2020 | F1 Winners & Losers Abu Dhabi GP |

“We are pleased to announce the city of Sao Paulo will continue to host the Brazilian Grand Prix until 2025 and look forward to working with our new promoter in the years ahead," said outgoing F1 CEO Chase Carey.

"Brazil is a very important market for Formula 1 with devoted fans and a long history in the sport.

"The race in Brazil has always been a highlight for our fans, the drivers and our partners and we look forward to providing Formula 1 fans with an exciting race at Interlagos in 2021 and over the next five years.”

There will be a new promoter for the Sao Paulo Grand Prix in the shape of Brasil Motorsport, with backing coming from Abu Dhabi-based global investment company Mubadala.

"It is a great joy to be able to announce that Interlagos will continue to host one of the of the most important events in world motorsports," said the mayor of Sao Paulo, Bruno Covas.

"We made a tremendous effort to keep the race in our city. We have robust infrastructure for tourists, public safety and offer top-notch services.

"We believe that hosting the Grand Prix, in addition to promoting our city to the world, will continue to bring important contributions such as job creation and income generation. We have seen studies that show that for every R$1 invested in the São Paulo GP, R$5.20 is generated for the local economy."