Monaco Grand Prix extended until 2031: a deal driven by pounds or prestige?

It’s official: Formula 1 has agreed a six-year extension with organisers of the Monaco Grand Prix. The ‘jewel of the F1 calendar’, Monaco brings it all; the OG of glitz, glamour and celebrity, it’s the chance to see the world’s fastest cars navigate the sports’ sharpest, most unforgiving turns past the super yachts of the French Riviera. In short, Monaco brings money.

This extension comes amid F1 CEO Stefano Domenicali’s push for a European ‘rotating race’ concept. European promotors could host a race at reduced cost, Formula 1 could balance competition amongst long-standing host cities, and spectators can enjoy year-on-year variety. Monaco’s six-year extension contradicts this model, showing that financial value eclipses performance value.

Monaco is one of F1’s most storied venues, having hosted a Grand Prix almost every year since 1955. While its historic layout offers a unique spectacle, it is often criticised for lack of on-track action. The tight, unforgiving circuit makes overtaking nearly impossible, leading to processional races wherein qualifying positions usually determine the outcome. There are limited opportunities for drivers to move through the field once the race begins, so team and driver success is usually determined by luck over racing ability.

Historically, Formula 1 has previously removed circuits from the calendar due to similar concerns of lacklustre racing. The Valencia Street Circuit, Hockenheimring, Magny-Cours, Le Castellet and the Korean International Circuits, have all been plagued by rumours that an inability to engage spectators, and failure to financially impress Formula 1, led to their removal.

Like it or not, Monaco is here to stay…