Formula 1 Confirms Future Of Monaco Grand Prix In Contract Announcement

Saajan Jogia | Nov 14, 2024

Sergio Perez of Mexico driving the (11) Oracle Red Bull Racing RB20 leads Carlos Sainz of Spain driving (55) the Ferrari SF-24 during practice ahead of the F1 Grand Prix of Monaco at Circuit de Monaco on May 24, 2024 in Monte-Carlo, Monaco. / Clive Rose/Getty Images

Formula 1 has extended its partnership with Monaco’s iconic street circuit on the F1 calendar until 2031, thanks to a new six-year extension of its agreement with the Automobile Club of Monaco (ACM), which initially covered races up to 2025.

The Monaco GP made its F1 debut in 1950 and has been a part of the Formula 1 calendar since 1955, standing as one of the world’s most iconic sporting events. The recent announcement extending Monaco’s contract through 2031 strongly suggests that the soon-to-be-revealed rotational calendar for European race venues will maintain Monaco as a permanent fixture. However, the full details of this rotational approach will become clear with the official calendar announcement.

Set along the stunning French Riviera, the Monaco GP challenges drivers to navigate through the narrow, winding streets of Monte Carlo, making it one of the most unique circuits in Formula 1. The track demands precision and skill as drivers tackle iconic sections like Casino Square, the tight Loews Hairpin, the slowest turn in F1, and the high-speed Swimming Pool complex. The blend of breathtaking scenery and technical difficulty makes Monaco an unmatched spectacle on the F1 calendar. Speaking on the partnership extension, the president and CEO of Formula 1, Stefano Domenicali, said in a statement:

“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.

“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.”

The President of the Automobile Club of Monaco, Michel Boeri, 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.”

The 2024 Monaco Grand Prix drew over 70 million viewers, becoming the most-watched edition in US history. The 2025 race, set for May 23-25, will mark the 75th anniversary of Monaco's official F1 debut.