Melbourne will remain as the host of the Australian Grand Prix having secured the rights until 2023.
Last year the state signed a new deal that would run until 2020, however, that has now been extended by three years.
The new contract was announced by Victoria Premier Daniel Andrews, who made it clear to his New South Wales counterpart, Mike Baird, that the race would remain in Melbourne long-term.
In a video posted on Facebook, Andrews said: "I'm sorry Mike but the Australian Formula One Grand Prix is here to stay exactly where it belongs, in the great city of Melbourne.
"The good news is that you and tens of thousands of others from New South Wales and right across Australia and indeed right across the world are more than welcome to come to Melbourne to be part of the great race.
"In fact I'll even shout you a ticket."
Baird had hoped that Sydney would take over as the host of the grand prix in 2021 and even spoke of during his election campaign.
That dream, though, is over for now and Andrews hashtagged that #sorrynotsorry.