Written By Hugh Waring, Edited by Meghana Sree
The Formula 1 organisation has announced the extension of its contract to host the Austrian Grand Prix at the iconic Red Bull Ring until 2030. The three-year extension is a surprise, considering that a four-year extension from 2024 to 2027 was only recently announced in March. The new agreement solidifies Red Bull's commitment to the sport following the passing of its founder and prominent figure, Dietrich Mateschitz, last year.
The extended partnership between Formula 1 and Red Bull's subsidiary and race promoter, Projekt Spielberg, ensures the continuity of the Austrian Grand Prix well into the next Concorde Agreement, which is set to commence in 2026. This long-term commitment signifies mutual trust and a shared vision between the parties involved.
Since its return to the Formula 1 calendar in 2014 under Red Bull's management, the Austrian Grand Prix has been widely regarded as a success. The race had been absent from the calendar since 2003 before making a comeback. The event gained further popularity with the emergence of Max Verstappen, who joined Toro Rosso in 2015. Verstappen's presence on the grid attracted a significant number of Dutch fans, who now make up a notable portion of the passionate crowd attending the Austrian Grand Prix.
The race organisers also earned acclaim from Formula 1 for their efforts in navigating the challenges posed by the COVID-19 pandemic. When numerous Grand Prix events around the world were cancelled due to the global health crisis, the Red Bull Ring stepped in and successfully hosted two races in 2020, with the second event named the Styrian Grand Prix. The track again played host to two races in 2021, further solidifying its standing as a reliable and adaptable venue.
Stefano Domenicali, the CEO of Formula 1, expressed his delight at the contract extension, saying: "I am delighted to announce this news with our exceptional partners in Austria. The vision and passion of Dietrich Mateschitz, a man who loved this sport, made this all possible, and it is a very special moment and a tribute to him that we can confirm we will be racing at this incredible venue until 2030."
Oliver Mintzlaff, Red Bull's CEO of corporate projects and investments, also expressed his enthusiasm, stating: "This is great news for everyone involved. For the Spielberg location, which will be strengthened in the long term. For F1, the unique tradition of one of the most spectacular and atmospheric races on the calendar will continue. And last but not least, for the fans, teams, and drivers who love the Red Bull Ring."
With the extension of the Austrian Grand Prix deal, Formula 1 fans can look forward to many more years of thrilling racing and unforgettable moments at the historic Red Bull Ring.