Organizers of the Italian Grand Prix say they have reached a deal with Formula One (F1) to keep the race at the historic Monza circuit, until 2024.
No other F1 track has hosted more races than Monza, which is situated just north of the Italian city of Milan.
In a statement released on Tuesday, Formula One said there had been an "agreement in principle for a new five-year deal." While no formal deal has been officially signed, the Automobile Club of Italy who run the racetrack has also said in its own statement that its President Angelo Sticchi Damiani will continue negotiations with Formula One on all the technical and commercial aspects related to the partnership. It went on to say that the "economic aspects of the contract" had also been taken care of.
This year will see Monza host the 70th edition of Italian Grand Prix, which takes place over the first weekend of September. Formula One's owner Liberty Media is keen to maintain legacy races such as Monza and talks continue over the future of the British Grand Prix, which still remains unclear beyond 2019.
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