The Monaco Grand Prix will remain on the Formula 1 calendar until 2031 after signing a six-year extension, Afrosport reports.
The Principality has been ever-present on the F1 calendar since 1955 but has come under scrutiny for its lack of overtaking opportunities, which often makes racing a procession.
According to Daily Mail, the contract extension is worth more than £150 million, with organisers agreeing to pay £25 million per year.
“I’m delighted that Formula 1 will continue to race in Monaco until 2031, F1 CEO Stefano Domenicali said on the F1 website.
“The streets of Monte Carlo are unique and a famous part of Formula 1 and the Monaco Grand Prix remains a race that all drivers dream of winning.
“I would like to extend a special thanks to H.S.H. Prince Albert II of Monaco, Michel Boeri, President of the Automobile Club of Monaco and everyone involved in the extension of this important partnership.
“This agreement signals a new era of partnership and innovation between Formula 1 and Monaco. It is the future focused leadership of H.S.H. Prince Albert II of Monaco which will allow us to create an optimised calendar, which reduces pressure on logistics and to decrease the environmental impact of our global Championship, as we continue the path towards our Net Zero goal by 2030.”
BREAKING: Formula 1 to continue to race in Monaco after new multi-year deal#F1 pic.twitter.com/sfXyX4bAJZ
— Formula 1 (@F1) November 14, 2024
The Monaco Grand Prix has typically taken place during the last weekend in May but from 2026 will be held during the first weekend in June, meaning it will no longer clash with the Indy 500, which takes place at the end of May.
