A statement issued by Formula One Administration, Bernie Ecclestone’s event organising group for F1, announced that a new contract has been agreed after a meeting with Michel Boeri, the Club’s President.
Ecclestone had recently suggested that Formula 1 could “do without” the traditional venue that has been a mainstay on the Grand Prix calendar since modern-era competition began in 1950, although no doubt this was more to do with leveraging the organisers’ fees upwards.
Monaco’s Grand Prix organisers are known to pay among the lowest hosting fees of any event on the F1 calendar.
[Original image via The Cahier Archive]
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