Interlagos will continue to stage Formula 1 through to 2025 after signing a new deal.
The current deal for the São Paulo venue, that had played permanent host since 1990, expired this year, even though the race was not part of the calendar due to Covid-19.
That led to speculation Rio was ready to stage a return at a yet-to-be-built track in the Deodoro province, only for it to face vehement opposition from environmental groups upset at the location of the track in the Camboatá Forest area.
The fact Interlagos has now re-signed comes on the back of a new promoter taking over the event in Brasil Motorsport, who are owned by investment entities controlled by Mubadala, a global investment company from Abu Dhabi.
The venture comes under the auspices of Alan Adler, a senior executive with relevant
experience in the sports and entertainment sector who has been appointed to lead the new partnership with F1.
F1 CEO Chase Carey, who had fallen out with the previous promoters, said: “We are pleased to announce the city of São Paulo will continue to host the Brazilian Grand Prix until 2025 and we look forward to working with our new promoter in the years ahead."
Carey, who steps aside as CEO at the end of the year, added: "Brazil is a very important market for Formula 1 with devoted fans and a long history in the sport.
"The race in Brazil has always been a highlight for our fans, the drivers and our partners and we look forward to providing Formula 1 fans with an exciting
race at Interlagos in 2021 and over the next five years.”
São Paulo mayor Bruno Covas expressed his "great joy" the circuit will continue to host what he has described as "one of the most important events in world motorsports".
"We made a tremendous effort to keep the race in our city," added Covas. "We have a robust infrastructure for tourists, public safety and offer top-notch services.
"We believe that hosting the grand prix, in addition to promoting our city to the world, will continue to bring important contributions such as job creation and income generation.
"We have seen studies that show that for every R$1 invested in the São Paulo GP, R$5.20 is generated for the local economy.”
For his part, Adler has no doubt the race at Interlagos, that is to be known as the São Paulo GP, will continue to play a key role for the city and F1 as "it is one of the most respected circuits on the calendar".
He added: "Brazilians are motorsports and speed enthusiasts, and Brazil has a long tradition of producing great drivers, which in turn has created a great legion of F1 fans in our country.
"I believe that due to our experience working with reputable global brands, we can
do a great job at uniting sports, brands, and entertainment.
"With this, we will be able to provide new experiences for the public, both on and off the tracks.”
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