 Complete the following phrase:  In November 2018 media brought the news that the Formula One racing organisation has invited the owners of the Zandvoort race track to make a concrete proposal to stage a Grand Prix race in 2020. In March 2019, it was confirmed that a letter of intent had been signed between Zandvoort and Formula One Management to stage the Dutch Grand Prix, but that it was dependent on private funding being secured to cover hosting the race. A deadline of 31 March 2019 was set for a final decision to be made. On 14 May 2019 it was confirmed that Zandvoort would host the Dutch Grand Prix for 2020 and beyond for a duration of at least three years, with the option to host another two in the future. The Municipality of Zandvoort will pay four million Euros which will be used so the circuit itself can undergo various changes, such as slight alterations to the track, to bring it up to date with F1 standards, this is set to include banking the final corner and Hugenholtzbocht. The infrastructure around the circuit is set to be improved as well, most of the money will be used to improve the accessibility to the track. On 29 August 2019, the 2020 Dutch Grand Prix at Zandvoort was placed 5th race on the draft schedule, listed on 3 May 2020, between China and 