Formula 1 announced on Thursday that, after a six-year extension has been worked out with the Automotive Club of Monaco (AMC), it will continue to stage the Grand Prix in the country until 2031.

Formula 1 stressed that the agreement marks a "significant commitment to F1's sustainability endeavors." President and CEO of Formula 1 Stefano Domenicali expressed his delight that the race will continue in Monaco, saying: "The streets of Monte Carlo are unique and a famous part of Formula 1." He also thanked Prince Albert II of Monaco and President of AMC Michael Boeri.

Boeri stated the agreement signals a new era of partnership and innovation citing the prince's leadership as integral to a future optimized calendar and reduced pressure on logistics necessary for the goal of Net Zero environmental impact by 2030.