01/03/2017
NEWS STORY
Organisers of the Russian Grand Prix have announced the race contract has been extended until 2025.
Only last week, it was revealed that this year's race will have a title sponsor after a deal was agreed with VTB, a leading Russian financial group.
Now, organisers in Sochi have agreed a new deal that will see the event remain on the calendar until 2025, the first race contact extended under the sport's new ownership.
With a title sponsor, no doubt picking up much of the tab for the race hosting fee, it means that the Russian government is no longer having to foot the bill.
"It is a complex deal, which combines the promoter contract," admitted promoter Sergey Vorobyov, according to Motorsport.com. "The important part is the title sponsorship contract for us.
"There are a few other things that we are working on now with Chase Carey and his team that I'm not ready to announce yet," he added. "Everything started with Bernie and is being concluded with Chase and his team."
Though the circuit is not popular with fans, or some drivers, Vorobyov admits that plans for a night race have not been entirely dismissed.
"There is an option of having a night race if we spend quite a significant amount of money and six to seven months of preparations," he said. "This can be done by using one of the suppliers that has worked on such projects for Abu Dhabi or Bahrain or Singapore.
"But as a part of our vision for a Russian Grand Prix we want to go local in this regard," he admitted. "We are now preparing the technical documentation for Russian companies that will apply for this type of contractual work for lighting and for electricity services for the Sochi Autodrom for the night race and we will be working very closely with FIA and FOM, so that will be specifically Russian made lighting. We want everything to be made locally."