Sao Paulo extends Formula One contract until 2020

Sao Paulo: Sao Paulo's Interlagos circuit will remain on the Formula One schedule until at least 2020.

The Interlagos circuit, whose previous F1 contract was to run to 2015, will also undergo major redevelopment work, Sao Paulo's prefecture said in a statement Friday, reports Xinhua.

Rennovation work will include a complete resurfacing of the track, new corporate boxes and an upgrade of the existing paddock and pit-lane areas.

"The changes will leave an important legacy for Interlagos, which is going to be better, more beautiful and modern," the statement said.

The announcement ends speculation of Formula One's possible return to Rio de Janeiro, which featured on the Grand Prix circuit in the 1980s.

This year's Brazilian Grand Prix, the season's penultimate race, will be held on Nov 9.