Melbourne to host Australian GP until 2023

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Melbourne will continue on as host of the Australian Grand Prix until 2023 after securing a three-year extension to its contract.

The Albert Park has become a mainstay on the F1 calendar since replacing Adelaide in 1996 and has been the opener in every season except 2006 and 2010. The circuit is set to host the 2016 season opener on April 3.

An agreement between Formula One Management and the Victorian government was already in place until 2020. Victorian premier Daniel Andrews announced the news on his Facebook page.

"The Australian Formula One Grand Prix is here to stay exactly where it belongs, in the great city of Melbourne," Andrews said.

The Melbourne race is one of the most popular on the calendar and regularly attracts over 300,000 people over the four days.