On Tuesday, the Long Beach City Council unanimously approved a new agreement with the Grand Prix Association of Long Beach that will allow the company to continue running the annual Toyota Grand Prix of Long Beach through 2023, GPALB officials announced today.

The new agreement, which will take effect starting with the April 13-15, 2018 Toyota Grand Prix of Long Beach, sustains a relationship between the city and the Grand Prix Association which has spanned the last 43 years.

The City Council had voted unanimously back in August to maintain its relationship with the GPALB on the recommendation of financial firm KPMG.

“We’re looking forward with great enthusiasm to the continuation of this extraordinary partnership between the City of Long Beach and the Grand Prix Association,” said Jim Michaelian, president and CEO of the GPALB. “Together we will continue to deliver the first-class, fan-friendly race event that we can all be proud of.”

“I think this is a great opportunity for the city to have this amazing event that we all love and enjoy so much,” said Long Beach Mayor Robert Garcia at Tuesday’s City Council meeting. “It’s great for economic development and to bring visitors into the city. To Jim and the team, thank you for working with us to come up with a new contract that I think is good for everyone.”

The 2018 Toyota Grand Prix of Long Beach will feature six races including the Verizon IndyCar Series and IMSA WeatherTech SportsCar Championship. Off the track, Grand Prix racegoers will enjoy free Friday and Saturday night concerts, the Lifestyle Expo featuring a huge Family Fun Zone, driver autograph sessions from all racing series, special events and exhibits highlighting the Grand Prix’s history, the popular Food Truck Experience and Sunday’s Mothers Exotic Car Paddock.