The Australian Grand Prix will continue to be held in Melbourne until 2035, according to the race organizers, who announced a new 10-year deal with Formula One on Thursday, beating out rival bids from Sydney and the Gold Coast.

The race was first held in 1928 and has been held at Melbourne's Albert Park Circuit since 1996.

It drew record crowds in April when it returned for a race won by Charles Leclerc's Ferrari after missing out in 2020 and 2021 due to the coronavirus pandemic.

In a statement, Stefano Domenicali said that "the race has always been a favorite for the fans, drivers and the teams, and Melbourne is an incredible and vibrant international city that is a perfect match for our sport." 

According to organizers, nearly 420,000 people attended the four-day event this year, breaking the previous record of 401,000 set at Melbourne's inaugural Grand Prix in 1996.

The scenes played a significant role in Albert Park defeating rival bids and securing the race for the next 13 years.

Sydney, the Gold Coast, and Adelaide were among those rumored to want a piece of the Formula One action.

It is worth noting that the popularity of Formula One has reached new heights, thanks in part to the series Drive to Survive, which has attracted a younger audience and turned drivers into celebrities.

Formula Two and Formula Three races will be added to the Australian Grand Prix weekend next season.

The race weekend dates for next year have yet to be announced.

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