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26th September 2008

Red Bull Energy drinks magnate Red Bull boss Dietrich Mateschitz has received approval from the local Styrian government to proceed with the rebuilding of the Austrian A1-Ring race circuit.

The circuit was originally completed in 1969, when it was known as the Oesterreichring, and hosted the Formula One Austrian Grand Prix from 1970 until 1987. After the track was redeveloped and re-named the A1-Ring it staged the race from 1997-2003.

Subsequently the facility was acquired by Mateschitz and partially demolished in preparation for further redevelopment when a dispute arose with environmental protestors.

The rebuilt track is expected to ready to host events in the Spring of 2010 but Mateschitz has stated that he does not intended to hold Formula One races at the facility.

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