Monaco renews until 2031 and moves Formula 1 GP to early June

The streets of the Principality of Monaco have been part of the Formula 1 calendar since 1950 and will continue to be until at least 2031, thanks to the renewal of the contract announced on Thursday by both parties.

After doubts in recent years about the long-term future of the Monaco race, partly due to various clashes over sponsorships and the costs of hosting the Grand Prix, as well as the fact that Monaco often delivers exciting Saturday races but less thrilling Sundays, like this year’s race which had no pit stops, the Monte Carlo event is now secure for at least the next six years.

One of the classic events on the calendar, so much so that it is considered one of the jewels of the triple crown along with victories in the prestigious 24 Hours of Le Mans and the Indy 500, now has a stable future. The previous contract only extended until 2025, and there were open discussions about the race’s future, especially since Liberty Media was considering the possibility of modifying the layout of the track to provide more overtaking zones, which is realistically very difficult.

With this new agreement, starting from 2026, Monaco will change its date, moving from the traditional end-of-May slot to the first week of June. This change has a dual impact: on one hand, it will avoid clashes with the Indianapolis 500, but more importantly, it will provide Formula 1 with greater flexibility in calendar planning. “The Principality has made a significant commitment to Formula 1’s sustainability efforts and its ambition to create a more sustainable calendar,” reads the F1 statement.

The renewal of the contract with Monaco is part of a broader strategy by Formula 1, which in recent years has opted for long-term contracts, sometimes even lasting decades: a way to ensure stability for the calendar, and the renewal of Monaco for an additional six seasons is confirmation of this.

There will also be commercial changes. Starting in 2025, as part of the agreement signed by F1 with LVMH, TAG Heuer will replace Rolex as the official timing partner: TAG is also a long-time partner of the Monaco race, meaning its brand will no longer be in conflict with F1’s brand, which had been a point of contention during past renewal negotiations. Monaco had fixed income from its collaboration with TAG Heuer, while F1 insisted that its partnership with Rolex be respected even in Monaco.

“I am pleased that Formula 1 will continue racing in Monaco until 2031,” said F1 CEO Stefano Domenicali. “The streets of Monte Carlo are unique and an iconic part of Formula 1. The Monaco Grand Prix remains a race that every driver dreams of winning.”

“I would like to extend a special thanks to H.S.H. Prince Albert II of Monaco, Michel Boeri, President of the Automobile Club of Monaco, and all those involved in extending this important partnership,” added the Formula 1 CEO.

Michel Boeri, President of the Automobile Club of Monaco, expressed his satisfaction with the contract renewal, which will still require the Principality to pay a participation fee to host the event, as was the case in the last contract extension: “I would like to thank especially H.S.H. Prince Albert II of Monaco, Stefano Domenicali, and everyone involved in extending the contract.”

“Signing this new agreement with the Formula 1 Group until 2031 not only confirms the strength of our relationship, but also reaffirms our commitment to offering all visitors an unparalleled, first-class experience during race weekends. The Monaco Grand Prix is the most important sporting event and continues to attract hundreds of thousands of spectators to the Principality and millions of viewers worldwide.”