‘The Monaco GP Secures Its Future Until 2031.’
The glamour and prestige of the Monaco Grand Prix will endure, as Formula 1 has extended its contract with the iconic street race until 2031.
The announcement on 14 November 2024 marks a new chapter in the storied relationship between Monaco and F1.
In 1929, the first Grand Prix was held on the streets of Monaco.
In 1950, Monaco hosted its inaugural race in F1’s debut season.
During the 1980s and 1990s, Ayrton Senna cements his legacy with six wins, showcasing his mastery in both skill and courage.
In the 2000s, the European Union forces F1 to separate its regulatory and commercial interests.
Bernie Ecclestone acquires F1’s commercial rights and brokers a unique deal with Monaco, granting the principality special privileges:
Monaco retains control of its broadcast direction.
Advertising revenues go directly to Monaco.
Thursday practice sessions and Friday breaks have become a tradition.
In 2017, Liberty Media acquired F1, beginning a more commercialised era.
Monaco’s historically preferential treatment faces scrutiny.
Two and three-year contract extensions become the norm, reflecting tense negotiations.
14 November 2024, Monaco’s contract is extended by six years, securing its place until 2031. Key terms include:
From 2026, the Grand Prix moves from its late May slot to the first weekend in June.
The move avoids clashes with the Indianapolis 500 and Cannes Film Festival.
Increased Hosting Fees: Monaco doubled its annual fee to £25 million, which aligned with F1’s modern commercial demands.
The revised calendar optimises logistics, supporting F1’s net-zero carbon emissions target by 2030.
Stefano Domenicali, CEO of Formula 1, announced, ‘The streets of Monte Carlo remain a unique part of F1. This extension guarantees its presence on the calendar for years to come.’
Michel Boeri, President of the Automobile Club of Monaco, added, ‘The Monaco GP is our most important sporting event, attracting global audiences and star-studded glamour.’
Traditionally aligned with Cannes, Monaco’s late-May race has been a magnet for A-list celebrities, adding to its allure.
The principality’s blend of history, luxury, and motorsport creates a spectacle unrivalled in the F1 calendar.
The final late-May Grand Prix will occur from 23 to 25 May 2025 before the new schedule begins in 2026.
The last June race in Monaco occurred in 2003, with Juan Pablo Montoya victorious for Williams.
From 2026 onwards, the early June slot promises fresh opportunities for fans and organisers.
Despite its glamour, Monaco’s tight, narrow streets often lead to processional races.
Modern F1 cars have outgrown the circuit’s confines, but the event’s prestige ensures its continued place in motorsport folklore.
The Monaco Grand Prix remains a jewel in Formula 1’s crown, where history, luxury, and racing intertwine, ensuring its presence on the F1 calendar.
‘Monaco, the race where overtaking is as rare as a reasonably priced cocktail at La Rascasse.’
