The Italian GP will stay on the F1 calendar for at least five more seasons after a new deal with Monza, announced on Wednesday.

After signing an intent deal early in the season, F1 has announced a new five-year contract with Automobile Club d’Italia (ACI) to keep the Italian GP on the calendar at Monza circuit, until at least the end of 2024.

The deal was announced on Wednesday during a public event held in Milan to celebrate the 90th edition of the Italian GP and, at the same time, the 90th anniversary of Scuderia Ferrari.

Speaking on the new deal, Chase Carey, Chairman and CEO, F1, said: “We are really pleased to have reached an agreement with the ACI which ensures the Italian GP will remain on the FIA F1 World Championship calendar until at least 2024.

“This is one of four Grands Prix that were part of the 1950 championship and still features in the calendar and along with the British GP, it is the only one to have been held every year since then. History, speed and passion are words that motorsport fans associate with Monza.

“The feeling one gets at this Grand Prix is truly unique, as is the circuit’s distinctive podium. I would like to thank the ACI, especially its President, Angelo Sticchi Damiani for its efforts and this five year deal means that another part of the jigsaw for the F1 of the future, is now in place.

“The championship features many historic venues such as Monza and also new countries in which the already vast fan-base of our sport can grow. For now, we can look forward to what is bound to be another great race this weekend, as we prepare for the F1 GRAN PREMIO HEINEKEN D’ITALIA 2020 and in the years to come.”

At the same time, Angelo Sticchi Damiani, President of the Automobile Club d’Italia, said: “It is just like winning a F1 Grand Prix, a very hard and important one, fought to the finish line – which counts as not one but five titles.

“It’s with great satisfaction that I welcome the conclusion of the agreement between ACI and F1, which guarantees the inclusion, for the next five years, of the Italian GP in the calendar of the Formula 1 World Championship, and ensures that the event will take place in the ‘Temple of speed ‘: the Monza Eni Circuit, not only the oldest but also the fastest and most spectacular circuit of the whole motorsport.

“A great outcome for ACI, for Monza, for the Lombardy Region and Italian sport in general, which opens up a five-year perspective to build a future that matches the legendary past that has made Monza a world capital of motorsport.

“It was a challenging journey to get to this outcome and is one of those race victories that makes us forget every risk, every effort, and leaves inside a great joy and an uncontrollable desire to celebrate.”

It is the second grand prix which has been signed on with five year in play after British GP, with Liberty Media keeping its promise of retaining historic circuits. The deal also confirms the F1 2020 date to be as September 4-6.