Spanish F1 fans are rejoicing with the news that the country's Grand Prix in Barcelona will remain on the sport's schedule in 2020.
Financial woes had put the event in doubt earlier this year, but funding secured from the local government of Catalunya has guaranteed the race's presence on next year's calendar.
As the 2020 schedule currently stands, F1 fans are set to enjoy a record 22 races next season, including two new venues - Zandvoort and Hanoi.
Formula One chief executive officer Chase Carey said: "The decision to continue to stage a round in Spain, a country with a great motor-racing tradition, dating back to the start of the last century, is part of our strategy of maintaining Formula 1's European roots, while also currently expanding the championship into new territories.
"The promoter's willingness to be part of F1 going into 2020 is proof of the sport's ability to act as a catalyst for regions to hold world-class events and also to have a positive impact on the area's economy."
Quim Torra, President of the Government of Catalunya, said: "Catalonia will be, for the 30th time in a row, host to a Formula 1 Grand Prix. Catalonia is a country with a very long tradition in motor sports, and therefore, we are pleased to have strengthened continue our position as a classic event in the calendar for fans all around the world.
"Throughout the 30 years, we have integrated this event in the industrial policies of the Government, and the Formula 1 Grand Prix at Circuit de Barcelona-Catalunya is an important a tool to stimulate the economic activity in the country in terms of tourism, as well as in the automobile and entertainment industry. Moreover, it gives us the opportunity to show the world the way Catalans are, how we work and what our country is like.
"For all of these reasons, we welcome the continuity of Formula 1 in our home country. We are grateful for the excellent relationship with Chase Carey, Formula 1 Chairman and CEO, and we are well aware that our current challenge is to make sure that the Circuit de Barcelona-Catalunya keeps up maintains this role, both as economic driver and as a link to our sports and industrial tradition."
Spain's retained presence likely seals the fate of the German Grand Prix, with Hockenheim falling off the calendar once again.
No date has yet been attributed to Barcelona, as F1's chiefs and the FIA are likely hard at work building a coherent schedule of 22 events that should run from March to late November.
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