Brazil president says Rio has a deal with F1 for 2020!

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Brazil's president Jair Bolsonaro announced on Wednesday that Rio de Janeiro will host the Brazilian Grand Prix from 2020.

A return of F1 to Rio was alluded to recently by the state's governor, Wilson Witzel, who said that Liberty Media was very much in favour of seeing F1 move the Brazilian Grand Prix away from its current venue at Interlagos and settle in Rio.

President Bolsonaro told the media that that an agreement had been signed with governor Witzel and Rio mayor Marcelo Crivella for the construction of a circuit located in the city's suburban Deodoro area.

Rio de Janeiro puts itself in the running for Brazilian GP

"The management of F1 has decided to maintain a grand prix in Brazil, but Sao Paulo has become impractical because of the event’s public financial support and the debt that exists over there," Bolsonaro told reporters.

“The new racetrack will be built in six or seven months. The hotel sector will be happy, the state economy as well since it will be six of seven thousands jobs generation.

"It is good for both Rio de Janeiro and Brazil."

Rio's future facility is set to be designed by F1's resident architect, Tilke Engineers & Architects. Its construction would be completed by the end of this year and entirely financed with private money.

The new track would also bear the name of Brazilian hero and F1 legend Ayrton Senna.

President Bolsonaro also posted the following message on Twitter:

"After our victory in the elections, Formula 1, which would leave Brazil, decided not only to remain, but also to build a new race track in RJ [City of Rio de Janeiro], which will have the name of the idol Ayrton Senna. With this, thousands of jobs will be created, benefiting the economy and the population of the state."

Rio hosted the Brazilian Grand Prix for the very first time at Jacarepagua in 1978 and then again from 1981 to 1989.

Unfortunately, the former Autodromo Internacional Nelson Piquet no longer exists, having been torn apart and buried under Rio's 2016 Olympic Park.

Over the years, Interlagos has become a problematic venue for F1. Safety issues surrounding the race emerged two years ago but more importantly the event is no longer financially viable, hence Liberty Media's interest in moving the race to Rio.

This year's Brazilian Grand Prix - the penultimate round of the world championship - is scheduled to take place on November 17.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.