KEY POINTS:
An agreement for Australia to continue to host a Formula One motor race until 2015 is expected to be signed within days, local media reported yesterday.
The future of the Australian grand prix was placed in jeopardy in March with Formula One supremo Bernie Ecclestone saying it might be dumped after 2010 unless it switched to a night race to accommodate European television audiences.
Race organisers and the Victoria state government, which helps underwrite the Melbourne event, have refused to stage it at night but suggested a compromise to move the start time to 5pm (local time).
This year's Australian grand prix started at 3.30pm, 90 minutes later than in previous years.
