Date: 14th September 2015 at 8:12am
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The Formula One Australian Grand Prix will stay at Melbourne’s Albert Park until 2023.

The Australian Grand Prix has been held in Albert Park since 1996 when the event switched from Adelaide.

The track has been a great hunting ground for British drivers in the past with Damon Hill, David Coulthard, Eddie Irvine, Lewis Hamilton and Jenson Button all leaving Australia victorious.

Over the past 20 years, British drivers have stood on the top step of the podium 9 times.

In the past the future of the race in Albert Park was under threat as campaigners believed the event was too expensive to host.

However as soon as a threat from Sydney came to lure the race away, a new contract extension was signed and sealed.

‘We are very happy to extend our relationship with Melbourne, who continue to set the standard for Formula 1 events globally,’ said Formula One supremo Bernie Ecclestone to the media.

‘This new agreement will take the city past 25 consecutive years of hosting Formula 1, a super achievement.’

Premier of Victoria, Daniel Andrews added: ‘Our competitors interstate have made no secret of their desire to steal it, but it is here to stay. I can assure Victorians Daniel Ricciardo won’t be racing over the Sydney Harbour Bridge any time soon.’