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"We and those who are with me are very proud...it's a great
victory," Estrosi told reporters.
Named after the local pastis alcohol magnate who financed it,
and also known as Le Castellet, the track last hosted a grand
prix in 1990. The country's most recent Formula One race was at
Magny-Cours, in central France, in 2008.
France hosted the first recognized grand prix near Le Mans in
1906, and was also part of the first world championship season
in 1950 with a race at Reims.
The five-year deal was agreed with the Provence-Alpes-Cote
d'Azur (PACA) region in association with the city of Toulon,
department of Var and the French motorsport association (FFSA).
PACA president Estrosi, an ex-mayor of Nice and a former car and
motorcycle racer who finished fourth in the 1978 French 500cc
Grand Prix at Nogaro, said the event was likely to happen in the
European summer.
He declined to say how much it had cost to bring back motor
racing's elite competition, but said the contract was in the
normal price range for a grand prix in Europe.
"Losing the grand prix left a real scar on the country," Estrosi
said.
Germany has been axed from the 2017 calendar for financial
reasons, despite the country having world champions in dominant
Mercedes, but Hockenheim still has a contract to host the
loss-making race in 2018.
Le Castellet, which features the long Mistral straight, has been
fully renovated and is now owned by Formula One supremo Bernie
Ecclestone's family trust.
The Briton told Reuters last week that the trust was not
involved in the race and would be leasing the facility to "the
people that are going to be the promoters."
France currently has two drivers on the starting grid, Romain
Grosjean and Esteban Ocon, while French manufacturer Renault has
its own team and provides engines to former champions Red Bull
and Toro Rosso.
The showcase Monaco Grand Prix, a few hours' drive from Le
Castellet, has been a fixture on the calendar since 1950 and the
closest thing to a home race for French drivers in recent years.
(Reporting by Tatiana Chadenat; writing by Sudip Kar-Gupta and
John Irish, editing by Ed Osmond/Alan Baldwin)
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