Formula One announced Wednesday it has signed a four-year contract extension to keep the Austrian Grand Prix on the calendar until 2027.

The existing contract was due to run out after this year’s race at the Red Bull Ring in the mountainous setting of Spielberg on July 2, reports AP.

Austria has hosted an F1 championship race on and off since 1964 and the Red Bull Ring has been on the calendar each year since 2014.

The venue also held a second race in each of the 2020 and 2021 seasons under the Styrian Grand Prix name as F1 made up for races canceled during the coronavirus pandemic.

Source: Bahrain News Agency (BNA)