Formula 1 has officially extended its agreement with the Monaco Grand
Prix, securing the iconic race on the F1 calendar through 2031. This
new deal builds on the previous contract set to expire in 2025, adding
six more years to Monaco's celebrated presence in the sport.
The
Monaco Grand Prix, a cornerstone of the F1 World Championship since its
debut in 1950, has been a permanent fixture on the calendar since 1955.
Next year, the event will mark its 75th anniversary from May 23-25,
before transitioning to a new permanent date in the first weekend of
June starting in 2026.
Stefano Domenicali, President and CEO of Formula 1, shared his excitement about the contract renewal, stating, "I am thrilled that Formula One will continue to race in Monaco until 2031. The streets of Monaco are unique and an integral part of Formula One. This Grand Prix is a race that every driver dreams of competing in."
The future of the Monaco Grand Prix had been uncertain due to challenges
surrounding the event's sustainability. These included the crowded race
calendar, which features 24 races this year, as well as financial
concerns. Monaco's distinctive urban setting limits audience capacity,
and the city’s financial contribution to hosting the race is relatively
modest, although it does attract an international audience well before
and after the Grand Prix with events surrounding the race happening
both day and night.