Monaco Grand Prix organiser ACM has given a “guarantee” that the race will remain in Formula 1 beyond 2022.
The future of the ‘Jewel in the Crown’ has been queried in recent years, in particular, if the famed street circuit remains suitable for modern F1 as races have become a procession.
Off the track too, the glitz and glamour that was often solely associated with the Monte Carlo event have become commonplace at many races.
While commercially, Monaco now pays a hosting fee for the first time and its unique Thursday, Saturday, Sunday schedule has also been brought into line with other races.
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So with the race no longer having the untouchable status it once had under F1 owners Liberty Media, it has been speculated that Monaco could be facing the axe as soon as after this year.
“It was suggested Liberty Media’s demands were too excessive for Monaco and the Grand Prix would no longer be held,” Auto Hebdo quotes Automobile Club de Monaco president Michel Boeri as saying.
“That’s not true. We are still in talks with them and we must now make it concrete by signing a contract. I can guarantee you that after 2022, the Grand Prix will continue to take place.
“I don’t know if the contract will be for three or five years, but that’s a detail.”
Currently, F1 is in a tricky spot albeit in a good way as a huge calendar shake-up is currently underway.
New races in the Netherlands, Emilia Romagna, Saudi Arabia, Qatar and Miami have already been added plus further races in Las Vegas and South Africa are set to join in 2023 and 2024.
Additionally, the Australian, Singapore and Canadian GPs are also returning after a two-year absence in 2022, while potentially two events in China are set to be added once the Covid-19 pandemic eases.
But under the Concorde Agreement, only a maximum of 25 races are allowed per season. This means Liberty Media will have to cut some current events with historic circuits like Monaco and Belgium’s Spa-Francorchamps thought to be most at risk.
And drivers have responded to that threat with world champion Max Verstappen meeting with F1 CEO Stefano Domenicali in Australia to discuss his particular concern over the recent influx of new street circuits.
“Of course, they have to make money and try to make the sport more popular, but it’s also important that the right tracks stay on the calendar and we don’t just go on street circuits in cities,” he told De Telegraaf.
“Ultimately, these cars are not made for that. He understands that, but he also has to take his shareholders into account. It won’t be like it used to be – entertainment is becoming more important.”
Sebastian Vettel also urged F1 to ensure there is a balance between high-paying races in new places and traditional venues.
“I think it’s always exciting to go to new places, providing they are good places, right places for us to be at,” the four-time former World Champion said.
“Obviously we had an absence of racing in America and then Austin came on the calendar, which was very exciting and established as a great race. Maybe another great example is Singapore, we had never been there before and it’s great to be [going] back this year.
“Obviously you hope all the new places you go to are a good addition.
“Equally, you don’t want to lose out on the places you’ve gone to for so long. So it would be horrible to lose Melbourne from the calendar. It would be horrible to lose some of the core tracks in Europe.”
A solution likely to be used is to rotate certain races as Ferrari driver Carlos Sainz touted.
“I think there needs to be a limit for the number of races that we keep adding, so in the end, some other races are going to pay the price of having to stay out,” he said.
“Obviously [I’m a] big fan of having to go to Miami and Vegas, but at the same time, [it’s a] big loss having to lose classic European races, I think.
“Hopefully for the future, we can find a compromise where maybe races that cannot afford to be in the calendar every year, year-in, year-out, can be in the calendar once every two years, once every three years.
“And we keep coming back to the places that we’ve always been. Business is business. Liberty and Formula 1 will look at what they have to do, I guess, for business.
“But I wouldn’t like to stop racing in Europe. I think it’s a great place to go racing, it’s where our heritage is and I think we need to keep coming back, even if it’s not every single year, but at least keep it on the calendar.”
