Russian Grand Prix organisers have secured the race's future at Sochi until 2025 thanks in large part to the support of new title-sponsor, the VTB Group.
The Russian promoters had kick-started discussions with Bernie Ecclestone last year and then finalised a deal following conclusive talks with Liberty Media, F1's new owner.
Given the Russian government's reluctance to continue its funding of the event, worries about the race's future crept in. But the financial support of a title-sponsor alleviated those fears, although Russian GP promoter Sergey Vorobyov admitted it had been " a complex deal."
"The important part is the title sponsorship contract for us, and there are a few other things that we are working on now with Chase [Carey, F1 chairman] and his team that I'm not ready to announce yet.
"Everything started with Bernie, and is being concluded with Chase and his team."
Vorobyov is contemplating scheduling the Russian Gp as anight race, with further investigation of that possibility currently in the works.
"There is an option of having a night race if we spend quite a significant amount of money and six to seven months of preparations," said the promoter.
"This can be done by using one of the suppliers that had done such projects for Abu Dhabi or Bahrain or Singapore.
"But as a part of our vision for a Russian Grand Prix we want to go local in this regard."
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