The organisers of the Italian Grand Prix have agreed to a new three-year deal with FOM, ending months of uncertainty regarding the race’s future on the F1 calendar.
Monza’s existing contract with FOM expires at the end of this year, and there were repeated delays in negotiating a fresh deal. The two parties were unwilling to come at the same price, with F1 supremo Bernie Ecclestone charging a significantly higher price than he did in the previous deal.
However, speaking on Friday, Ecclestone confirmed that a new agreement has been agreed upon, which will be rubber stamped soon after.
"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," said Ecclestone.
"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."
Following the new agreement, the Italian Grand Prix will stay at Monza until at least 2019.
by Rachit Thukral