The Italian Grand Prix will stay at Monza until 2024 after a new deal was announced on Wednesday.
The historic venue has been a part of the Formula 1 calendar every year bar one since 1950, a record not even circuits like Monaco or Silverstone can boast.
However, financial strain has raised doubts over the future in recent years but once again, a compromise has been reached.
“It is just like winning a Formula 1 Grand Prix, a very hard and important one, fought to the finish line - which counts as not one but five titles!" Italian motorsport president Angelo Sticchi Damiani declared.
"It’s with great satisfaction that I welcome the conclusion of the agreement between ACI and Formula 1, which guarantees the inclusion, for the next five years, of the Italian Grand Prix in the calendar of the Formula 1 World Championship and ensures that the event will take place in the ‘Temple of Speed', the Monza Eni Circuit, not only the oldest but also the fastest and most spectacular circuit of the whole motorsport.
"A great outcome for ACI, for Monza, for the Lombardy Region and Italian sport in general, which opens up a five-year perspective to build a future that matches the legendary past that has made Monza a world capital of motorsport.
"It was a challenging journey to get to this outcome and is one of those race victories that makes us forget every risk, every effort, and leaves inside a great joy and an uncontrollable desire to celebrate."
Also Read:
The new five-year deal will also incorporate a big milestone for Monza, which celebrates its centenary in 2022, with upgrades to the circuit and facilities expected to commemorate the anniversary.
And as the Tifosi prepare to cheer on Ferrari to what they hope will be a first Ferrari win since 2010 this Sunday, the unique atmosphere of the Italian GP was one F1 simply couldn't be without.
“We are really pleased to have reached an agreement with the ACI which ensures the Italian Grand Prix will remain on the FIA Formula 1 World Championship calendar until at least 2024," CEO Chase Carey stated.
"History, speed and passion are words that motorsport fans associate with Monza and the feeling one gets at this Grand Prix is truly unique, as is the circuit’s distinctive podium.
"I would like to thank the ACI, especially its President, Angelo Sticchi Damiani for its efforts and this five-year deal means that another part of the jigsaw for the Formula 1 of the future, is now in place.
"The championship features many historic venues such as Monza and also new countries in which the already vast fan-base of our sport can grow.
"For now, we can look forward to what is bound to be another great race this weekend, as we prepare for the FORMULA 1 GRAN PREMIO HEINEKEN D’ITALIA 2020 and in the years to come.”
