Austria to stay on Formula One calendar until 2027

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Austria will continue to host Formula One until 2027 after signing a four-year contract extension, both sides said on Wednesday.

The Austrian Grand Prix returned to Formula One in 2014 and the last race of the existing agreement was set to be held on July 2.

"The Austrian Grand Prix brings together the perfect mix of a challenging track, high-speed racing, and a beautiful venue for our fans, so I am delighted that we will be coming back to the Red Bull Ring until at least 2027 under this new agreement," Formula One President and CEO Stefano Domenicali said in a statement.

"As we celebrate the 10th year since our return to Spielberg, I would like to thank everyone involved in this renewal, especially the promoter and Red Bull and I want to pay tribute to Dietrich Mateschitz for the love, passion, and vision he brought to Formula 1 that has ensured the continued success of the event and the huge enthusiasm for our sport in Austria and around the world."

Erich Wolf, General Manager of Projekt Spielberg GmbH & Co KG, added: "We are proud of the special partnership we have with Formula 1, and we are absolutely delighted to be welcoming the top class of motorsport to the Red Bull Ring for a further four years. In signing this contract extension, Formula 1 has made a strong commitment to Austria, Styria and the Murtal region.

"As we enter the tenth year of our partnership with Formula 1, we want to celebrate this milestone with all the great fans of the sport and to thank them for their loyalty and the tremendous atmosphere they help to generate. Everyone is invited to experience another great race weekend at Spielberg in 2023."