Shanghai signs on for another 7 years of F1 racing

Updated: 02 March 2011 21:50 IST

Shanghai has signed a deal to host Formula One's Chinese Grand Prix for another seven years.

Shanghai signs on for another 7 years of F1 racing
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Shanghai:

Shanghai has signed a deal to host Formula One's Chinese Grand Prix for another seven years.

The Shanghai International Circuit will remain on the F1 calendar through 2017.

The Shanghai Daily reports that the city's vice-mayor, Zhao Wen, says that the price of hosting the event was reduced in the new deal.

Attendance at the Chinese Grand Prix has been falling in recent years, but rose last year in part because of the return of Michael Schumacher after a three-year retirement.

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