Melbourne to host the F1 Australian Grand Prix until at least 2023

Formula 1's Australian Grand Prix will stay in Melbourne until at least 2023

Melbourne to host the F1 Australian Grand Prix until at least 2023

An agreement between Formula One Management and the Victorian government was already in place through to the 2020 race, however the Albert Park circuit's F1 tenure has now been extended further.

The premier of Victoria, Daniel Andrews, announced the news on his official Facebook page.

"The Australian Formula 1 Grand Prix is here to stay exactly where it belongs, in the great city of Melbourne," Andrews said in the video.

The race moved to Melbourne in 1996 after 11 grands prix in Adelaide, and Albert Park is set to host the 2016 season opener on April 3.

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