F1 to swap Interlagos for Rio from 2020, says Brazil president

Sao Paulo, May 9: The Brazilian Grand Prix will be staged at a new circuit in Rio de Janeiro next year, according to the country's president Jair Bolsonaro.

Bolsonaro stated it was no longer possible for Interlagos to be on the Formula One calendar after this season for financial reasons.

The iconic Sao Paulo track has been the venue for the race since 1990, but Brazil's president has signed a memorandum of understanding for a new circuit to be built at the Deodoro military base in the west of Rio.

"There was state assistance in Sao Paulo, with a huge debt. Keeping F1 there was no longer viable," he said.

"A new motor-racing track is going to be built. The construction will take six to seven months and the Brazilian Grand Prix will be held in Rio de Janeiro next year."

F1 races were held in Rio at the Jacarepagua circuit, which has been demolished, in 1978 and between 1981 and 1989.

There was no word from F1 organisers on a switch from Interlagos to Rio.