Fears over the future of the Monaco Grand Prix can fade, as the street circuit has been confirmed with a new multi-year contract extension.

The Monaco Grand Prix, one of Formula 1's most iconic events, will remain on the calendar through 2031 following a new agreement between Formula 1 and the Automobile Club of Monaco.The announcement secures the future of the storied race,

For over 70 years the Monaco Grand Prix has been one of the signature events no only of Formula 1 racing, but of professional racing in general. This week Formula 1 took a step to ensure that the Monte Carlo track remains a part of the racing calendar for years to come.