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The F1 Monaco GP has signed a three-year extension until 2025 ending all doubts about the future of the event. After the race this season, there were doubts over the future of Monaco on the F1 calendar. Some of the key sticking issues were the cost of the race, its TV direction, and control of advertising around the circuit. So was the race’s traditional end-of-May date.
The F1 calendar is expanding and will hold 24 races next season. Having said that, the sport is exploring other venues and countries like South Africa for a race. The United States already has three races and they're bound to generate some serious income when they're held. With that being the case, more and more races in Europe are going to be held on alternate years or miss out completely.
The Automobile Club de Monaco, who are the race organizers for the F1 Monaco GP, and Liberty Media, however, have reached an agreement and the event will continue to be a part of the calendar for the next 3 years. Announcing the same to the media, Stefano Domenicali said:
“I am pleased to confirm that we will be racing in Monaco until 2025 and excited to be back on the streets of this famous Principality for next year’s Championship on May 28. I want to thank everyone involved in this renewal and especially H.S.H. Prince Albert II of Monaco, Michel Boeri, President of the Automobile Club of Monaco, and all his team. We look forward to being back next season to continue our partnership together.”
Meanwhile, Michel Boeri, President of the Automobile Club of Monaco, said:
“In the interest of the Formula One World Championship, and after several months of negotiations, we are proud to announce that we have signed a three-year agreement with Formula One, and likely to be renewed.”
Monaco becomes the second classic venue after Spa to hold its place on the F1 calendar
At the start of the season, there were suggestions that classic venues like Spa, Paul Ricard, and Monaco were in danger of losing out for next season. As we know now, Paul Ricard is out of the picture and will not feature on the calendar next season. Spa's position on the calendar for the next season, however, was finalized during the 2022 F1 Belgian GP race weekend.
Belgium does, however, have an extension of only one year on the calendar, leaving a sword hanging over its head for the next season. Fortunately for Monaco, it has a 3-year contract and is not going anywhere soon.
