The Azerbaijan Grand Prix in Baku will stay on the calendar until at least 2023 after Formula One announced a contract renewal.
The renewal follows contract extensions in Belgium, China, Japan, Germany and Singapore since Liberty Media took control of the sport at the start of 2017.
“We are very pleased to have renewed this agreement,” F1 Chairman and CEO Chase Carey said in a statement.
“In just a short space of time, this race has become one of the most popular of the season, always producing closely fought and spectacular racing.”
Azerbaijan had said last year it wanted a reduction in its hosting fees after 2020 and more commercial benefits.
“This new agreement will allow our race to maximise its commercial revenues through increased fan-engagement activities and a new sponsorship approach,” Azerbaijan’s sports minister Azad Rahimov 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.”
Five races on the 2019 calendar are out of contract this year, however, and the promoters’ association last week issued a statement voicing concern at Liberty’s handling of the sport since they took over.
Britain’s Silverstone circuit, Germany’s Hockenheim which had a one-year extension to 2019, Italy’s Monza, Spain’s Circuit de Catalunya and Mexico City face an uncertain future.