Formula 1 races will be held in Azerbaijan for another three years, according to the agreement signed by Azerbaijan's Minister of Youth and Sports Azad Rahimov and executive director of Formula 1 Group Chase Carey, the correspondent of Vestnik Kavkaza reported.
"The last few years have been a dream come true for the people of Baku as we have seen our race weekend grow from a simple idea into one of the most dramatic and exciting race weekends in F1’s history," Rahimov said.
"This new agreement will allow our race to maximize its commercial revenues through increased fan-engagement activities and a brand new sponsorship approach to engage our local and regional businesses with Formula 1’s global platform," the minister said. "With these exciting opportunities in mind, extending our contract was never in question and we are delighted to stay in this wonderful sport for another five years at least."
Chase Carey, in turn, said that according to the results of the 2018 season, the Grand Prix of Azerbaijan has gained popularity among Formula 1 races, and Baku is a great location for holding sports competitions
"We are very pleased to cooperate with Azerbaijan and attaches great importance to this partnership," he stressed.
The CEO added that certain changes will be introduced to the Formula 1 races during the 2019 season. "You will see new pilots in 2019, changes will be made to the teams, the number of race organizers will increase. All this serves to ensure the races are upheld at a higher level," Carey said.
The 2018 Formula 1 Azerbaijan Grand Prix was held in Baku on April 27-29. Lewis Hamilton from Mercedes won the Formula 1 Azerbaijan Grand Prix in Baku.
The next Formula 1 races will be held in Baku on April 26-28, 2019.
