The Spanish Grand Prix will remain on the calendar for the 2020 season, officially confirming rumours that have been circulating for a number of weeks.
The Circuit de Catalunya's contract to host the race expired after the 2019 event, and there was major doubt over whether or not the race would be present on the 2020 schedule.
However, a deal has now been set and the race will stay for another year, as the Catalan government worked on a deal that saw funding for the event remain.
“We are pleased to confirm that the Spanish Grand Prix will be on the calendar of the 2020 FIA Formula 1 World Championship" said F1 CEO and chairman Chase Carey
"The decision to continue to stage a round of the pinnacle of motor sport in Spain, a country with a great motor racing tradition, dating back to the start of the last century, is part of our strategy of maintaining Formula 1’s European roots, while also currently expanding the championship into new territories.
"The promoter’s willingness to be part of Formula 1 going into 2020 is proof of the sport’s ability to act as a catalyst for regions to hold world class events and also to have a positive impact on the area’s economy.
"In the coming months, we will continue our discussions to see if we can further extend this advantageous relationship.
"In the meantime, I would like to thank Quim Torra, the Catalan President for his vital support in these negotiations, in the hope of celebrating a fantastic fiftieth Spanish Grand Prix in 2020, the thirtieth to be held at one of the most technically demanding circuits on the World Championship calendar.”
It now means that there are 22 races confirmed on the 2020 schedule - a recording-breaking and unprecedented number, with the previous record being 21 events.
Pre-season testing is also set to stay in Barcelona next season, as GPToday.net revealed earlier this month.
The Spanish Grand Prix has held a slot on the F1 race calendar every year since 1986, with the Circuit de Catalunya the host venue since 1991.