F1 future secured for Monaco GP as new three-year deal is confirmed

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Two Red Bulls and a Ferrari in parc ferme as the podium finishers. Monaco May 2022 Credit: PA Images
Two Red Bulls and a Ferrari in parc ferme as the podium finishers. Monaco May 2022 Credit: PA Images

Formula 1 has confirmed the retention of the Monaco GP will be on a new three-year contract, securing the blue riband race’s place on the calendar until at least 2025.

The future of one of motorsport’s Triple Crown had been cast into significant doubt after its previous deal was due to expire at the end of 2022, without a new one agreed when this year’s race took place.

Formula 1 announced a record 24-race calendar for 2023 on Tuesday and included Monaco on it, before confirming the new contract which will see the race continue in the sport for at least the next three years.

While the race holds particular prestige in Formula 1 due to its history and legacy, racing action is often lacking on the circuit which is notoriously the most difficult on the calendar on which to overtake – though that comes with the balance of driver skill being tested to its absolute limit.

Formula 1 CEO Stefano Domenicali confirmed the news of Monaco’s stay, following a significant amount of time being put into thrashing out a new deal.

“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 the 28th of May,” Domenicali said in a statement.

“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 de Monaco and all his team.

“We look forward to being back next season to continue our partnership together.”

ACM president Boeri added his enthusiasm for the move, believing the circuit’s future in Formula 1 will extend beyond its new deal in the process.

“In the interests of the Formula 1 World Championship, and after several months of negotiations, we are proud to announce that we have signed a three-year agreement with Formula 1, and likely to be renewed,” he said.

The 2023 calendar will include a first trip to Las Vegas among its 24 races, combined with the return of China and Qatar to the schedule, with France dropping off after their contract expired.

Sergio Perez took victory in a dramatic race in wet conditions in Monte Carlo earlier in the season.

Read more: Toto Wolff: New engine supplier makes 11th team debate ‘a completely different game’

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