Formula 1 has officially extended its contract with the Monaco Grand Prix, ensuring that this iconic race will remain on the F1 calendar until 2031. The decision comes as an extension of the existing contract due to expire at the end of 2025, solidifying Monaco’s place in F1 for six additional years.

The Monaco Grand Prix, a staple since its debut in the F1 World Championship in 1950, has been a constant fixture since 1955. Next year, the race will celebrate its 75th anniversary from May 23-25, and from 2026 onwards, it will permanently move to the first weekend of June.

Stefano Domenicali, President and CEO of Formula 1, expressed his delight at the renewal, noting, “I am thrilled that Formula One will continue to race in Monaco until 2031. The streets of Monaco are unique and a very important part of Formula One. This Grand Prix is a race that every driver dreams of racing.”

The continuation of the Monaco Grand Prix was uncertain due to concerns over the sustainability of the event given the tight race calendar, which features 24 races this year, and financial issues. The race’s unique urban setting limits audience capacity, and the city itself contributes relatively less financially to host the event.