Australia is poised to host a Formula One Grand Prix well into the future, with a massive upgrade set for Melbourne's Albert Park track.
The Victorian government announced on Sunday it will redevelop the track's pit buildings to modernise the facilities, with new garages, race control area, media facilities, hospitality areas and viewing spaces.
Media reports suggest the upgrades will cost $350 million, although the government would not confirm that figure and said the investment was commercial in confidence.
Melbourne has a contract to host the Australian Grand Prix until 2037, but the current facilities do not meet F1's standards, or those of the governing body, the Fédération Internationale de l'Automobile.
Locking the race in for decades will be a boon for the Victorian economy, Major Events Minister Steve Dimopoulos says.
More than 465,000 fans attended the 2025 event, with the race won by McLaren driver Lando Norris.
"Fans flock to Victoria from around the world for our Formula 1 Grand Prix - filling local hotels, restaurants, pubs and businesses - and we intend to keep it that way," Mr Dimopoulos said.
"This massive upgrade is a win for the local community - more space for community sport, more courts, better changerooms and park upgrades and a sporting venue Albert Park locals can enjoy."
When not used over the GP weekend, the Albert Park pits and surrounding playing fields are used for community sports.
The pit building has not been significantly upgraded since it was constructed in 1995.
The redevelopment is set to begin after the 2026 race, with completion due in 2028.
Melbourne has hosted Australia's round of the F1 season since 1996, after pinching the rights from South Australia.
No Australian has won the race since it shifted to Albert Park, but fans at the 2026 event will be hoping to see emerging superstar Oscar Piastri win his home-town race.
Piastri, 24, has won three straight Grand Prix to claim the lead in the 2025 title race and could arrive back in Melbourne as a world champion.
