The Italian Grand Prix is set to remain at the Autodromo Nazionale Monza until 2019 following an announcement from Formula 1 CEO Bernie Ecclestone and the Automobile Club d’Italia on Friday.
Monza has hosted all but one Italian Grand Prix since the formation of the F1 world championship in 1950, but faced an uncertain future after negotiations over a new contract stalled.
Ecclestone stressed that he would hesitate to find an alternative venue for the race if an agreement could not be reached on hosting fees, leading to discussions with Imola, the former host of the San Marino Grand Prix.
In a press conference on Friday afternoon, Ecclestone and ACI president Angelo Sticchi Damiani confirmed that a deal had been agreed to keep the race at Monza, although it is yet to be signed off.
“Regretfully, legally we can’t sign it here, but more important is that we have an agreement thanks to our lawyers and we are getting all the small details sorted,” Ecclestone said.
“There is no problem in having the race here. The contract will be for three years but I hope we are here for 100 years.”
Damiani has long expressed a desire to keep the Italian Grand Prix at Monza, revealing back in June that a breakthrough in negotiations came around the Monaco weekend in May.
While Imola has enjoyed significant upgrades since it last hosted F1 back in 2006, Monza’s contract extension is likely to be very well received throughout the paddock given its history and high-speed nature.