A fresh six-year agreement guarantees Monaco’s continued place on the F1 calendar, while a shift in race dates is set for 2026

Monaco’s iconic Grand Prix will remain a key fixture in the Formula 1 calendar for another six years, thanks to a newly agreed deal that secures the race until 2031. The agreement ensures that the race, long regarded as one of the sport’s most prestigious, will continue to draw crowds to the narrow streets of Monte Carlo, maintaining its status as the crown jewel of the racing world.

The Monaco Grand Prix, first held in 1929 and officially part of the Formula 1 World Championship since 1950, has been under pressure in recent years. With the sport expanding globally, and the introduction of new venues, many questioned whether the glamour and tradition of the Monaco event could withstand the increasing demands of modern F1. However, this latest deal has put those concerns to rest, reaffirming Monaco’s place at the heart of Formula 1’s elite races.

The 2024 Monaco Grand Prix saw Ferrari’s Charles Leclerc claim a historic win, becoming the first Monegasque driver since 1931 to triumph in his home race. His victory added to the event’s legendary status, further proving why Monaco holds such a cherished spot on the calendar. For many drivers, winning in Monaco is the pinnacle of their careers, a moment that defines their legacy in the sport.

Despite its continued glamour, the Monaco Grand Prix has faced challenges. The narrow streets of Monte Carlo, while offering a spectacular backdrop, make overtaking difficult, and the track itself is often considered less suited to the faster, more powerful cars of modern F1. In recent years, organisers have been under increasing pressure from Formula 1’s commercial owners, Liberty Media, to modernise certain aspects of the race, such as its television broadcast rights and on-track advertising. These changes were essential to securing Monaco’s place in the expanded F1 calendar, which now boasts a record 24 races for the 2024 season.

Nevertheless, Monaco’s organisers have resisted altering the circuit layout, citing the historical and unique nature of the event. Modifying the streets of Monte Carlo would be a difficult task, given the tight, winding roads that have made the race such a challenge for drivers since its inception. Despite these obstacles, the Monaco Grand Prix continues to deliver the high-stakes drama that fans expect, and it is clear that the race is far from losing its prestige.

A significant change to the event, however, will come in 2026, when the Monaco Grand Prix will move from its traditional late-May date to the first full weekend in June. While Formula 1 has yet to provide a full explanation for this change, it is widely believed that the adjustment is part of a broader strategy to streamline the sport’s global calendar. The Canadian Grand Prix, which typically takes place in early June, may also move to May, allowing for the pairing of North American races. This could make the sport’s logistics more sustainable while reducing the environmental impact of frequent travel across continents.

Stefano Domenicali, President and CEO of Formula 1, expressed his satisfaction with the new deal, stating, “The streets of Monte Carlo are unique and a famous part of Formula 1, and the Monaco Grand Prix remains a race that all drivers dream of winning. We are delighted that this iconic event will continue to be a staple of the F1 calendar for years to come.”

The race’s limited capacity for spectators, due to the compact nature of Monaco, has led to concerns over its long-term viability. However, the prestige and tradition surrounding the Monaco Grand Prix ensures that it remains one of the most-watched events on the F1 calendar. With its glamour, exclusivity, and the sheer spectacle of racing through the streets of Monte Carlo, the event continues to attract hundreds of thousands of visitors, both in person and through global television broadcasts.

Michel Boeri, President of the Automobile Club de Monaco, was equally enthusiastic about the agreement, saying, “The signing of this new agreement with the Formula One Group until 2031 not only confirms the strength of our relationship but reaffirms our commitment to offering all visitors an unrivalled, first-class experience at race weekends.” Monaco’s Grand Prix is not just a race—it is an event that encapsulates the allure of the principality itself, drawing elite visitors and media attention from around the world.

Looking ahead, while Monaco’s financial terms are modest compared to other newer F1 venues, its cultural and historical significance cannot be overstated. For Formula 1 and Liberty Media, maintaining the Monaco Grand Prix is a crucial step in preserving the sport’s rich heritage, even as they push for growth and sustainability in newer markets.