F1 and promoters of Monaco GP have inked a new deal which will see the famous street race on the calendar for until 2031 season.
The long-standing and original street race on the F1 calendar will stay on for another six seasons beyond the current deal i.e until 2025 season. After the new contract signed between Liberty Media and the promoters, it will remain on the calendar until 2031.
Despite the growth of street races around the globe, F1 has managed to retain one of its core European grand prix in Monte Carlo for several decades. For 2025, the race will take place in May, but from 2026 onward, it will shift to a June date as per the agreement.
In their press release to announce the new deal, F1 stated that they have come to an agreement to stage the grand prix in the first full weekend in June from 2026 onward. It remains to be seen which grand prix will take its place in May.
F1 has been trying to bring races together geographically and Monaco often falls around the races in Miami, Spain and Canada on either side. The June change could be to align the races in Miami and Canada together and move Monaco with other European events.
“I’m delighted that Formula 1 will continue to race in Monaco until 2031,” said Stefano Domenicali. “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.”
At the same time, Michel Boeri, President of the Automobile Club of Monaco added: “I would particularly like to thank H.S.H. Prince Albert II of Monaco, Stefano Domenicali, and everyone involved in the extension of this contract.
“The signing of this new agreement with the Formula One Group until 2031 not only confirms the strength of our relationship but reaffirms our commitment to offering all visitors an unrivalled, first-class experience at race weekends.
“The Monaco Grand Prix is the most important sporting event here and continues to attract hundreds of thousands of spectators to the Principality and millions of global television viewers worldwide.”
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