Shang­hai is set to stay un­til at least 2020

Sport360 - - Motorsport Malaysian Grand Prix - By Daniel Hicks @dpahicks1

Chinese Grand Prix will re­main in the For­mula One cal­en­dar for at least three more years, ac­cord­ing to a con­tract ex­ten­sion an­nounced by F1 yes­ter­day.

Un­der am­bi­tious new United States-based own­ers Lib­erty Me­dia, F1 had re­leased its 2018 race sched­ule in June with the Shang­hai leg only listed as pro­vi­sional, prompt­ing spec­u­la­tion it could be axed.

But F1 said in a state­ment that it had reached an agree­ment with lo­cal or­gan­iser Shang­hai Juss Sports De­vel­op­ment to keep the race in China from 2018-2020.

The cur­rent deal had been due to ex­pire at the end of this year.

“We are very pleased to have reached an agree­ment which will see the For­mula 1 Chinese Grand Prix con­tinue as a fix­ture of the For­mula 1 World Cham­pi­onship for at least a fur­ther three years,” F1 chair­man and CEO Chase Carey said.

“This great coun­try has al­ready demon­strated an over­whelm­ing show of in­ter­est in our sport and we firmly be­lieve there is still a great deal of un­ex­plored po­ten­tial here.”

Terms were not dis­closed. Lib­erty is in the process of re­build­ing For­mula One af­ter tak­ing over from its flam­boy­ant long­time ring­mas­ter Bernie Ec­cle­stone amid con­cerns over the vi­a­bil­ity of the cir­cuit.

Carey has sig­nalled the im­por­tance of China and Asia in its plans for fu­ture growth and ear­lier in Septem­ber or­gan­is­ers of the Sin­ga­pore Grand Prix an­nounced a fouryear con­tract ex­ten­sion un­til 2021, promising to take fresh steps to re­duce the race’s costs and in­crease rev­enue.

Malaysia has de­cided to can­cel its grand prix fol­low­ing this week’s race at Sepang, cit­ing ris­ing costs.

The Shang­hai In­ter­na­tional Cir­cuit held its first race in 2004.

Look­ing east: Chase Carey.

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