Mar.17 (GMM) The immediate future of the Belgian grand prix seemed secure on Thursday.

It was announced that Shell, the Dutch global oil giant and Ferrari sponsor, has inked a "multi-year" deal to be the title sponsor of the popular Spa-Francorchamps race.

The historic event in the Belgian Ardennes was said to have been endangered for financial reasons.

"The formula one Shell Belgian grand prix is a cornerstone of the world championship calendar," said Shell Retail executive vice president John Bullock.

Shell also recently renewed its long-standing partnership with Ferrari until 2015.

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