MotoGP signs preliminary agreement with planned Rio circuit

Rights holders Dorna Sport said in a statement on Friday that the memorandum of understanding was with Rio Motorsport, a company backed by local and international investors.

The new circuit would give the city a replacement track for the old Jacarepagua circuit that made way for the 2016 Rio de Janeiro Summer Games' Olympic Park.

Jacarepagua hosted a Brazilian round of the MotoGP championship between 1995 and 2004 as well as Formula One in the 1970s and 1980s before that race moved to Sao Paulo's Interlagos.

"We are pleased with Dorna's serious interest in going back to Brazil and their trust in promoting the race at the racetrack we hope will be built in the city," said Rio Motorsports head JR Pereira.

(Reporting by Alan Baldwin in London, editing by Pritha Sarkar)