Young Australian motorsport sensation Oscar Piastri is set to have a grandstand named after him at the Albert Park Grand Prix circuit in Melbourne next year.

The 24-year-old Victorian currently leads the F1 championship with 14 of the 24 races completed this season.

The Piastri Grandstand will be located on the main straight, opposite pit lane.

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The Fangio Grandstand will remain, with the structure growing in capacity and sectioned into two — Piastri and Fangio, with the Piastri Grandstand incorporating the most sought-after seats closest to the start line.

Piastri will join a number of other Australian drivers who have a grandstand named after them, including Jack Brabham, Arthur Waite, Alan Jones, Daniel Ricciardo and Mark Webber.

“I’m very excited by the news that I’ll have my own grandstand at next year’s Australian Grand Prix,” said Piastri.

“It feels very surreal, and I never thought this would happen but the support is incredible and I can’t wait to see it all come together next March.

“Seeing all the fans in my own grandstand directly opposite the McLaren garage is going to be an amazing experience and I’m really looking forward to feeling the energy and the atmosphere.”

Piastri leads the F1 standings with 284 points with 12 podiums. He is followed by McLaren teammate Lando Norris on 275 points, also 12 podiums.

Defending champion Max Verstappen is third on 187 points for Red Bull, while George Russell in his Mercedes is fourth on 172. Ferrari’s Charles Leclerc rounds out the top five on 151 points.

The Australian GP will take place from March 5-8 next year.