The inaugural Qatar Grand Prix is ready to fill the vacant slot in the revised Formula 1 schedule.A deal has been finalised between Qatar and F1 to replace the cancelled Australian Grand Prix.The inaugural event will be held on 21st November at the Losail International Circuit.The middle eastern giants have also agreed on a 10-year deal to host the Grand Prix in Qatar from 2023.F1 says that talks will continue 'regarding the location for the Grand Prix from 2023 with further details to be provided at a later time.'F1 CEO Stefano Domenicali said: "We are very pleased to welcome Qatar to the Formula 1 calendar this season and for the longer term from 2023."The Qatar Motor & Motorcycle Federation and Authorities have been incredible and have moved at great speed to ensure the race can take place this season at the Losail Circuit, famous to many as the host of MotoGP."We have shown that we can continue to adapt and there is huge interest in our sport and the hope from many locations to have a Grand Prix."The huge effort from all the teams, F1 and the FIA has made it possible to deliver a 22 race calendar, something that is very impressive during a challenging year and something we can all be proud of.”

The Losail circuit holds an FIA Grade 1 license and is well known for hosting MotoGP events since 2004 as Qatar also staged the opening two rounds of the 2021 MotoGP season.

The title race between Lewis Hamilton (246.5 points) and Max Verstappen (244.5) has become very tough, with the difference only down to 2 points.

The Qatar Grand Prix will be one of the last three races of the calendar year. This would make the Qatar Grand Prix an important race in this year's Championship.

Despite 2009 GP2 Asia being the last time Losail has hosted a Formula racing event, there are a lot of expectations set on Qatar by the F1 community.