The Austrian Grand Prix will remain on the calendar of the prestigious Formula 1 (F1) motor racing series until at least 2027.

The deal, announced today (March 15), was struck between F1 and Austrian Grand Prix promoter Projekt Spielberg and takes effect from 2024.

The last race under the current agreement will be staged on July 2 this year.

The Austrian Grand Prix returned to the F1 calendar in 2014 after an 11-year hiatus when the late Red Bull co-founder Dietrich Mateschitz bought and redeveloped the Red Bull Ring circuit (originally called the Österreichring and later the A1-Ring).

Last year’s race weekend drew a 303,000-sell-out crowd, with Ferrari’s Charles Leclerc triumphing ahead of Red Bull’s Max Verstappen.

The 2023 season began in Bahrain on March 5, with the second round taking place in Saudi Arabia on Sunday (March 19). The 23-race season will be the longest in F1 history.

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Erich Wolf, general manager of Projekt Spielberg, said: “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 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.”

Stefano Domenicali, president and chief executive of F1, said: “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.

“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.”

Image: Clive Rose/Getty Images