Iconic F1 race signs multi-year deal, to continue to be on the calendar until 2031

F1 has announced a long-term agreement for the iconic Monaco Grand Prix, until the end of the 2031 season. The race in the principality is known as one of the "Crown Jewels" of motorsports, alongside the Indy 500 and the 24 hours of Le Mans.

The sport has been visiting the streets of Monte Carlo since the initial days of the championship, and the first street race has become a mainstay on the calendar.

However, the place of the Monaco GP in the calendar has come into question over the last couple of years due to a lack of racing action with the current generation of cars. The tight and twisty nature of the track pushes drivers to extract the maximum performance on a single lap but makes it difficult to overtake.

On Thursday, F1 CEO Stefano Domenicali announced the extension of the Monaco GP agreement with the Automobile Club of Monaco, and said,

“I’m delighted that Formula 1 will continue to race in Monaco until 2031. 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."

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F1 CEO on extending Monaco GP's contract

Formula 1 CEO Stefano Domencali said the deal was an "important partnership" and a big step in the sport's goal of reducing its carbon footprint and becoming net zero by 2030 and thanked H.S.H. Prince Albert II of Monaco.

The former Ferrari F1 team principal said,

“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 optimized calendar, which reduces pressure on logistics, and decrease the environmental impact of our global championship, as we continue the path towards our Net Zero goal by 2030.”

Meanwhile, Michel Boeri, President of the Automobile Club of Monaco, said the new deal was an indication of the strength of the relationship with F1. He added,

“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.”

The legendary F1 race is currently held in May but will be shifted to June from 2026 onwards and held on the month's first full weekend.