Monaco will remain the jewel in Formula One’s calendar until 2035 after an extension to its hosting contract was announced today.
After fraught negotiations with the sport’s owners Liberty Media over recent years, the iconic venue signed a six-year extension last November worth £25million per annum to stage the race. This addition builds on that arrangement.
Monaco joins the likes of Silverstone (2034), Madrid (2035) and Bahrain (2035) on long-term commitments, though others such as Melbourne (2037), Miami (2041), Austria (2041) are lengthier.
Michel Boeri, boss of the Automobile Club De Monaco (ACM) that organises the event, was in Monza ahead of Sunday’s Italian Grand Prix to sign the extension.
Monaco has conceded certain aspects it once controlled to fall in with Formula One Group’s demands – including a move from its traditional slot at the end of May to the first week of June from next year.
The ACM handed over TV production of the event in 2024 and changed the format of the weekend to run on consecutive days from Friday to Sunday in line with every other race, rather than stage practice on Thursday with Friday a day off.
Monaco will remin on the Formula One calendar until at least 2035 after signing an extension
The grand prix will be moved from its usual slot in May to taking place in June from next year
George Russell previously called for the Monaco Grand Prix to be replaced by two qualifying sessions
Until the last few years Monaco paid the lowest tariff of all host venues with former F1 supremo Bernie Ecclestone saying: ‘Monaco has given F1 more than F1 has given Monaco.’
Stefano Domenicali, Ecclestone’s successor as chief executive, has committed himself to maintaining a significant footprint in the sport’s European heartlands even as he expands racing into the US and the Middle East, both of which territories have three grands prix.
‘The streets of Monaco have been echoing with the sound of Formula One since the earliest days of the sport, so I’m delighted to announce the extension of this fantastic event to 2035,’ confirmed Domenicali.
‘It is an iconic race that is loved by all drivers and fans, with a unique vibe thanks to its location in the world’s most glamorous principality.
‘I would like to say a special thank you to His Serene Highness, Prince Albert II of Monaco, Michel Boeri, President of the Automobile Club of Monaco and everyone involved in securing the long-term future of this historic partnership.’
Monaco staged the second round of the world championship in its inaugural season 75 years ago and had been ever present since 1955, other than for Covid in 2020.
It has been criticised for a lack of overtaking and a mandatory second pit stop was introduced this season, a race won from pole by Lando Norris.
