News: Abu Dhabi extends Formula 1 Grand Prix contract

Abu Dhabi has signed a “multi-year” extension to its Formula 1 Grand Prix contract.

There is no yearly limit to the rolling contract that the UAE capital city has now signed to host F1 races. Abu Dhabi, which hosted the final race of this year’s campaign today Sunday, November 23, 2014, first held an F1 event at the Yas Marina circuit in 2009.

H. E. Khaldoon Al Mubarak (UAE) Abu Dhabi Executive Affairs Authority and Bernie Ecclestone (GBR) CEO Formula One Group (FOM).

Abu Dhabi Motorsports Management (ADMM) and Formula One World Championship Limited (FOWC) have agreed the contract extension deal.

A statement released on Thursday said: “The current agreement was due to expire after the 2016 race and the announcement reflects the ambition of both parties to lock in the Grand Prix for future years at an early opportunity.

“A sell-out event every year since the inaugural race in 2009, the weekend welcomes more than 125,000 local and international spectators to Abu Dhabi to experience one of the most significant events on the global sporting calendar.

“Nearly 50 per cent of all spectators are overseas visitors to the UAE and those attending the race represent more than 120 nationalities.”

Khaldoon Khalifa Al Mubarak, the chairman of Abu Dhabi Motorsport Management, said: “This race and the Yas Marina Circuit has introduced Abu Dhabi and the United Arab Emirates to tens of millions of visitors and TV viewers from around the world.

“We remain committed to continually delivering a better experience for the Formula 1 family and ticket holders.

“It is a mark of the quality of our partnership with Formula One World Championship that we both want to focus on looking forward and on delivering many more successful races.”

Sebastian Vettel of Germany and Infiniti Red Bull Racing celebrates on the podium after winning the Abu Dhabi Formula One Grand Prix at the Yas Marina Circuit on November 3, 2013 in Abu Dhabi

This year Yas Marina Circuit expanded its capacity to 60,000, a 20 per cent increase since 2009.

“Abu Dhabi has played an important part in pioneering the modern era of Formula 1 racing,” said Bernie Ecclestone, Chief Executive Officer of the Formula One group of companies.

“I said when the Yas Marina Circuit was opened that it may one day be matched, but it will never be bettered.

“The island has continued to transform each year. We have a wonderful partner here.”

Ticketholders to the Etihad-sponsored Formula 1 Abu Dhabi Grand Prix also enjoy free access to concerts by renowned regional and international artists.

This year sees Armin Van Buuren, Pharrell Williams and The Who, amongst others, playing in the UAE capital over the F1 weekend.