The Russian Grand Prix will remain on the Formula 1 calendar until 2025 at the earliest after officials announced a new contract agreement for the race in Sochi.
Russia joined the F1 calendar in 2014 with a race at the Sochi Autodrom circuit built around the village used for the Winter Olympics in 2014.
The race’s previous contract had been due to expire in 2020, but has now been extended to 2025 following the announcement of a new deal on Tuesday.
“We held negotiations and the contract for holding a Formula 1 Grand Prix in Russia has been extended until 2025,” deputy prime minister Dmitry Kozak told Russian news outlet TASS.
The announcement comes following months of negotiations between officials from Sochi and former F1 CEO Bernie Ecclestone, who stepped down in January.
This year’s Russian Grand Prix will also feature a title sponsor for the first time in the form of finance group VTB, as confirmed last week.
“We are delighted to welcome VTB into the Formula One family as it becomes Event Title Partner of the Formula 1 Russian Grand Prix,” F1 CEO and chairman Chase Carey said.
“VTB’s involvement will only add to the continued success of the event and we look forward to this being the start of a long and successful relationship.”
