The Japanese Grand Prix will be continue to be held at Suzuka for at least another year, after agreeing a one-year contract extension with Formula One Management.The Honda-owned track had been facing an uncertain future in Formula One as its three race deal, signed in 2009, was set to expire at the end of 2011, but this new deal guarantees a Grand Prix at the circuit for at least another year.

Along with Silverstone, home of the British Grand Prix, Suzuka hosts the only privately funded Formula One race of the year. It has been coming under increasing pressure from government-backed races. including those held in China, Abu Dhabi and India, which stages its first race this year. New circuits reportedly pay as much as US$48 million a year to host a Formula One race; Suzuka’s fee is thought likely to be around the US$20 million mark.However the length of the new contract suggests that long-term doubts remain about the event at the circuit, which underwent a major facilities upgrade before its return to the Formula One calendar in 2009.

Despite the fact that Japanese manufacturers Honda and Toyota, as well as tyre supplier Bridgestone, are no longer involved in the sport, interest and support remains strong in the country. Indeed, Red Bull Racing announced last week that it has signed a deal with Japanese luxury automotive brand, Infiniti.

The 2011 Japanese Grand Prix will be held at the circuit, a popular venue with drivers, on Sunday 9th October and will feature local driver Kamui Kobayashi, who has been retained as a driver for the Sauber team this year.

The new world championship season begins in Melbourne on Sunday 27th March.

Source: SportsPro