Chinese GP set to extend stay at Formula 1

Johannesburg [South Africa], August 23 (ANI): A new deal has been agreed in principle to keep the Chinese Grand Prix in the Formula 1 calendar.

A senior F1 official has confirmed that the deal is likely to be signed within a period of few weeks.

"We've been working hard with Juss Event, the promoter, and we've got an agreement in principle," Sport24 quoted Sean Bratches, F1 managing director of commercial operations, as saying in Shanghai.

"My suspicion is that it will be executed by the end of next month, fully executed," he added.

In the 2018 race schedule released in June by the sports' new US-based owners, Shanghai, along with Singapore, was only listed as provisional.

The move had increased speculation that the races might be axed from the roster.

Bratches further said that next year's race schedule was released by the F1 chiefs earlier than previously as part of efforts to make the sport more fan- and sponsor-friendly.

"Next year the schedule will be released and there will be nothing provisional about Shanghai because we will have a long-term deal," he said.

The current deal for the Chinese Grand Prix is due to finish by the end of this year. (ANI)