Brazil's president says Rio de Janeiro will host the country's Formula One race in 2020, once the city's new autodrome is ready.

President Jair Bolsonaro said Wednesday that the new race track will be built in six to seven months, once work begins.

However, Rio Motorsports, the consortium behind the project, tells The Associated Press that the timing is actually 16 to 17 months.

The race is currently held in Sao Paulo, but Bolsonaro says it has become unviable to put on there, mentioning "huge debts."

Rio last held the Brazilian Grand Prix in 1989.