Spanish GP 🏁 Secures 2020 F1 Calendar Slot 👏

The Spanish Grand Prix will remain on the Formula 1 calendar at Barcelona next season after striking a fresh deal for 2020.

Spain's only F1 race was under serious threat but the Barcelona circuit has signed what appears to be a new one-year agreement to host the event again.

The circuit has announced it will implement a "strategic plan with the will to create a larger project for the facilities" and secure the "feasibility" of the event.

Its statement added: "The plan will serve as a framework to define the role that F1 shall have on a longer-term [basis]."

According to F1, more than half a million spectators have attended the race over the last three years and reported data from the circuit that this year's grand prix generated €163m for the region.

F1 CEO Chase Carey said the parties would seek to agree a longer-term deal in the coming months and thanked Catalan president Quim Torra for "vital support" during the negotiations.

"The decision to continue to stage a round of the pinnacle of motorsport 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," said Carey.