Azerbaijan signs 10-year-contract for holding Formula-1 European Grand Prix

Azerbaijan has signed a contract for holding the Formula-1 European Grand Prix for 10 years, Azad Rahimov, Azerbaijani minister of youth and sports, told reporters Feb. 8.Rahimov said that the races must be held within five years.The minister added that if Azerbaijan takes a decision not to hold this competition within five years, the country will be fined.