The Austrian Grand Prix has secured a further five-year race deal after local authorities agreed to cover the costs at the Spielberg circuit.
The province of Styria said it had signed a contract with Formula One supremo Bernie Ecclestone to 2006.
The Austrian venue was considered a likely candidate to be dropped from the season’s itinerary when Russia's new circuit is completed in 2003.
But triple world champion Niki Lauda, now Jaguar's team principal, helped the Austrian state and Styria negotiate the contract.
Styria will pay Ecclestone €10.9 million per grand prix, will pay the drivers to race and cover the costs of organising the event.
In return, the province will receive the revenue from ticket sales and a sum from the Austrian state, which will pay for the organisation of the race.