Red Bull have announced their circuit, formerly known as the A1-Ring, will once again host Formula 1 from 2014.

Now called the Red Bull Ring, the circuit set on a hillside in the Austrian alps last hosted a F1 race back in 2003.

In a statement released on Tuesday morning, Red Bull announced a deal with Bernie Ecclestone for a July 6th race in 2014.

It said: "Dietrich Mateschitz [Red Bull owner] and Bernie Ecclestone have reached an agreement to the effect that Formula 1 will come back to Styria next year."

Red Bull are major players in F1 owning two teams and are the current triple world champions. Speculation had linked a possible return to the Austrian venue, Red Bull bought a few years ago.

Indeed negotiations had said to have taken place to host a race there this year after the New Jersey race was delayed until 2014, though nothing came about.

The return of Austria means three new venues will be on the 2014 calendar as New Jersey and Sochi in Russia are set to join the schedule.

Should no other races be dropped it would mean a record 22 races next season though speculation over the future of the Korean Grand Prix as well as the readiness of New Jersey could drop the number of races back down.

The Red Bull Ring was one of the most popular tracks on the calendar as well as one of the most unique.

The circuit features only eight corners but has plenty of long straights into tight corners, a feature that would become a mark of all Hermann Tilke designed tracks.

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