ACI president Angelo Sticchi Damiani has praised Liberty Media as efforts to save Italian Grand Prix look set to be successful.

Last month it was confirmed a new five-year deal was reached in principle between Sticchi Damiani and Formula 1 bosses with final confirmation now expected in July.

Talking about the process that has led to this point, the ACI president admitted it needed a lot of compromise from Liberty because of the position from which the talks started.

"We started with a very demanding contract, signed in 2016 when we were in a position of weakness, with Bernie Ecclestone expecting to leave F1 and wanting to increase the value of his business," he told La Gazzetta dello Sport.

"The sport's new owners then tried to defend a deal born in another time and place but was no longer sustainable, even for other European organisers.

"It was difficult, they were determined and they mentioned a long list of venues waiting to join F1, talks almost broke down two or three times," Sticchi Damiani added.

"The financial agreement is confidential but compared to their initial demands, we saved a lot of money.

"They wanted more than €24 million but we closed the deal for a lower figure for five years. It's a very good contract and I thank them because they realized the importance of Monza."

In 2022, the 'temple of speed' will celebrate it's centenary and significant upgrades to the facilities and even some minor tweaks to the circuit have been proposed.

While the continuation of F1's most historic race also offers hope to the likes of Silverstone, Germany and Mexico, who also need to agree new contracts for 2020 and beyond.