BEIJING (China): Formula 1 has extended its contract with the Chinese Grand Prix until 2025, the organisation said Saturday, despite the race being dropped from its calendar for next year.
Covid-19 and China’s strict travel restrictions prompted the cancellation of the Shanghai event in 2020 and this year. F1 has also not included the race on its 2022 schedule due to “ongoing pandemic conditions”.
But that has not stopped it from extending its deal with the world’s second-largest economy, which is a major growth market for F1.
“We are very pleased that this new agreement will ensure our fans in China have Formula 1 racing to look forward to in the coming years,” F1 said in a statement.
“While we are all disappointed we could not include China on the 2022 calendar … China will be restored to the calendar as soon as conditions allow and we look forward to being back with the fans as soon as we can,” President and CEO Stefano Domenicali said.
