Italian GP set to continue at Monza thru 2024 (Update)

Monza

UPDATE With the new deal, Monza will be paying an annual sanction fee of $17 million, down from the current $24 million.

04/30/19 Was there ever really any doubt? The Italian Grand Prix is set to continue at Monza circuit for another five years.

The current deal expires at the end of the season but on Tuesday the Italian Automobile Club said it reached an agreement in principle with Formula One owner Liberty Media on "the economic details of the contract" to keep the race at the historic circuit until 2024.

The president of the AIC, Angelo Sticchi Damiani, also posted on Twitter , adding: "we will continue negotiations with @F1 to quickly reach the signing of the contract."

No circuit has hosted more F1 racing. It was on the inaugural 1950 calendar and dropped off only in 1980 when Imola hosted the Italian GP.