Melbourne has put to rest the doubt over their continuation to host the Australian Grand Prix by securing a new deal to hold the round until 2023, extending its contract by a further three years.
Melbourne has hosted the event since they stole the race from Adelaide in 1996 and last year confirmed that it would keep Formula 1 until 2020, amid reports that other cities in Australia were keen to obtain the rights for the race which included Sydney.
That original deal has now been extended to 2023 and Melbourne will host Formula 1 races for at least the next eight years.
"We are very happy to extend our relationship with Melbourne, who continue to set the standard for Formula 1 events globally," said Bernie Ecclestone.
"This new agreement will take the city past 25 consecutive years of hosting Formula 1, a super achievement."
The Australian Grand Prix is set to open the 2016 campaign on April 3.