Monaco will continue to host Formula 1 races until at least ... From orphan to oligarch The Russian billionaire got rich, bought an English football club and then got sanctioned Peter Kosminsky on the influences that shaped his career

Monaco first hosted a grand prix in 1950. Marco Canoniero/LightRocket via . Formula 1 will race in Monaco until 2031 following a six-year extention to the principality

Formula One will continue to hold the Monaco Grand Prix until 2031 after signing a six-year agreement with the Automobile Club of Monaco (ACM), it said on Thursday.

Formula 1® will continue to race around the streets of Monaco until 2031, inclusive, following a six-year extension to the existing agreement with the

There had been doubts about Monaco's long-term future of the race given its notorious struggles to provide an entertaining race on the narrows streets of the principality, but F1 and Monaco have now struck a deal that will see the race remain on the calendar for six more years.

It is understood that amicable negotiations ended this week with the principality agreeing to pay £25m a year - double their previous annual contribution.