The future of the Monaco Grand Prix has long been a subject of debate. Now the organizers have finally agreed on a new contract with the F1 bosses. The classic will therefore remain on the calendar until at least 2025.
You can't actually imagine a Formula 1 season without Monaco. The harbor tour in the principality was already there in 1950 in the first year of the premier class. The classic has had a permanent place in the calendar since 1955. The event has only been canceled once since then - in 2020 due to the corona pandemic.
But lately the Glamor Grand Prix has come under fire again and again. Many fans no longer consider the track to be up-to-date. At 3.337 kilometers, the shortest slope on the calendar is too narrow and winding. Overtaking is practically impossible with modern F1 racers. New city circuits like Baku or Jeddah, on the other hand, show that you can also create a lot of spectacle on public roads if the layout is right.
Negotiations over several months
Because Monaco also contributes the least to the revenue of the Grand Prix circus of all the routes, the event threatened to be completely removed from the program. The F1 bosses not only demanded higher fees, but also the abolition of some special rights. The organizers in Monaco, for example, are allowed to set up their own perimeter advertising. In addition, the TV direction will be taken over by a local production company.
Negotiations took place behind the scenes for a long time. Now the result has finally been announced: Monaco stays on the calendar. Those responsible for the Monaco Automobile Club (ACM) have signed a new three-year contract with the F1 bosses. This secures the future at least until 2025. In the calendar for 2023, the Grand Prix is scheduled for May 28th.
No details on the new contract
ACM President Michel Boeri was relieved: "In the interest of Formula 1, and after several months of negotiations, we are proud to announce that we have a new agreement with Formula 1 for the next three years have met." Nothing has been announced about the exact concessions. But without an increase in the GP fees, it will certainly not have worked. This will be reflected in an increase in the already high ticket prices.
F1 boss Stefano Domenicali also expressed his satisfaction after completing the new deal: "We look forward to returning to the famous roads of the Principality next year. I would like to thank everyone involved in the extension, in particular Prince Albert of Monaco as well Michel Boeri and his team, we look forward to continuing this partnership together.”