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Baku signs new F1 race deal until 2023

BAKU, Azerbaijan -- The Azerbaijan Grand Prix will remain on the Formula One calendar for the next five years after a new deal was signed between race promoters and the sport on Tuesday.

The existing contract was due to expire after 2020's race but the new deal ensures the Baku street circuit remains in F1 until at least 2023. The former-soviet state first hosted a race in 2016 after signing an original ten-year deal with Formula One's previous CEO Bernie Ecclestone. However, last year the organisers of the race triggered a break clause in order to make the 2020 race the last of the original contract and bring F1's new owners, Liberty Media, to the negotiating table.