Red Bull have released a statement, announcing that the Austrian Grand Prix is to return next season, a decade after it last hosted a race in Formula One.

The newly-named Red Bull Ring will be the venue for a weekend initially scheduled for the start of July 2014, and the press release revealed that: "Dietrich Mateschitz and Bernie Ecclestone have reached an agreement to the effect that Formula One will return to Styria next year."

The company that also owns the current F1 World Champions, now owns the A1 Ring, where the most recent Austrian GP was held back in 2003.

Having been renovated by Mateschitz's company, the Red Bull Ring has already hosted races in the DTM series.

With New Jersey and Sochi events expected to also be added to the calendar for next year, it seems that a current race is going to have to give way to appease a tight schedule.

Formula One supremo Ecclestone has previously made it clear that he feels 20 races would be the limit for a single season, and these additional three weekends would mean there are potentially 22 rounds in place for 2014.

With competition to host Grands Prix already fierce, it seems that some countries are not safe and are going to lose their prestigious motor sporting events.


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