The future of the Australian grand prix is secure.
"To know there are many more home grands prix to come is great," new F1 sensation Daniel Ricciardo told the Herald Sun newspaper.
Amid annual $50 million-plus losses, the Melbourne race beyond 2015 had been in serious doubt as organisers warned they wanted a better deal from Bernie Ecclestone.
But it has now been announced officially that the sport is staying at Albert Park for at least five more years after the signing of a new 2016-2020 contract.
"I congratulate Australian grand prix corporation chairman Ron Walker for his success as a tough negotiator in getting the best deal for Victoria," said state premier Denis...
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