Melbourne secures F1 future until 2023

Melbourne

(GMM) Race organizers in Melbourne have added yet another three years to the contract of the Australian grand prix.

Last August, amid uncertainty over the future of the 20-year-old event at Albert Park, it was announced that a new deal through to 2020 had been signed.

"To know there are many more home grands prix to come is great," Australian driver Daniel Ricciardo had said.

Now, it emerges that there will be even more races than that for Ricciardo to look forward to.

Last late November, the incumbent Liberal government in Victoria was voted out, and replaced by new Labor premier Daniel Andrews.

And it was announced on Sunday: "The Andrews Labor government has secured the formula one Australian grand prix in Melbourne until 2023."

The news will completely end speculation that rival city Sydney might poach the race from Melbourne.

"Our competitors interstate have made no secret of their desire to steal it, but it is here to stay," said premier Andrews. "I can assure Victorians Daniel Ricciardo won't be racing over the Sydney Harbor Bridge any time soon."