Our Society 5 february — 12:27

Formula 1 remains in Baku (Until 2023)



Azerbaijan and Formula 1 have agreed to extend the contract. The parties signed the agreement until 2023 inclusive.

Commenting on the agreement, the Minister of Youth and Sports, Azad Ragimov said that holding Formula 1 races in Baku increases the number of tourists coming to Azerbaijan.

'Today is a significant event in the sports life of Azerbaijan,' said the minister. 'In recent years, the dream of Azerbaijani motor sport fans came true: Baku annually hosts one of the most spectacular racing weekends in the history of Formula 1. Moreover, the number of motorsport fans who come to the Baku stage and for a long time remain under the impression of its organisation and exciting race is growing every year.

I thank the leadership of Formula 1 for the friendly support and efforts. Our new agreement will allow our race to maximise its revenues by increasing attendance and attracting new fans, as well as a completely new sponsorship approach to attract our local companies to the global Formula 1 platform.'

Director General of Formula 1 Chase Carey said he was glad to be in Baku.

'The Grand Prix of Azerbaijan took its place in the F-1 calendar,' he said. 'Our research showed that the race in Baku won the best reputation as fans say. We are very pleased with the extension of the contract and want to please fans of motor racing that one of the favourite races remains in the calendar.

Azerbaijan always provides Formula 1 and its guests with a heartfelt welcome, and the capital, the city of Baku, appears at a racing weekend in all its glory and shows an amazing show to the whole world.

I also want to say that we are very pleased to cooperate with the leadership of the Grand Prix of Azerbaijan. We have a fruitful partnership.'

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