Monaco Grand Prix Secures F1 Future Until 2031

Monaco will continue to host Formula 1 races until at least 2031 as part of a newly struck six-year extension with the Automobile Club of Monaco. This agreement secures the future of the Monaco Grand Prix, which has been a prominent fixture in the F1 calendar since 1950, marking its significance as one of the longest-running events with 70 races held over 74 years. With a substantial viewing audience, the 2024 edition is projected to attract over 70 million fans, making it the most-watched race in U.S. history.

The updated contract, which addresses previous concerns over the race's competitiveness, includes a notable change in schedule. Starting in 2026, the Monaco Grand Prix will shift from its traditional end-of-May date to the first weekend of June, strategically avoiding a clash with the prestigious Indianapolis 500. Additionally, Monaco has agreed to a considerably higher sanctioning fee, reinforcing its commitment to stay on the F1 calendar amidst evolving competition. Further details about this arrangement are expected to be released soon.