The Austrian Grand Prix will return to the Formula 1 calendar in 2014.
Red Bull, the energy drinks company, issued a short statement to Austrian media outlets saying that it had concluded negotiations for F1 to return to the circuit. It said:
"Dietrich Mateschitz, Red Bull owner, and Bernie Ecclestone have reached agreement to the effect that Formula 1 will come back to Styria* next year."
The return of the Austrian Grand Prix will, 6 july 2014, need to be formally approved by the FIA later this year, at a meeting of World Motor Sport Council.
* Styria is a state or Bundesland, located in the southeast of Austria. In area it is the second largest of the nine Austrian federated states, covering 16,401 km². It borders Slovenia as well as the other Austrian states of Upper Austria, Lower Austria, Salzburg, Burgenland, and Carinthia. The capital city is Graz.