F1 reportedly wants to raise Monaco’s F1 GP commercial fee above its current $15 million – one of its smallest hosting fees – to match the level of other events. Qatar reportedly pays F1 $55 million for its contract, while China pays $50 million. France’s current deal is for $22 million.
|Country||Circuit||Annual Hosting fee ($)||Contract ends|
|United States||Miami||Joint F1/Miami Effort||2031|
|Saudi Arabia||Jeddah||55 million||2025|
|Abu Dhabi||Yas Marina||40 million||2030|
|Australia||Albert Park||35 million||2023|
|Singapore||Marina Bay||35 million||2021*|
|Austria||Red Bull Ring||25 million||2022+|
|Great Britain||Silverstone||25 million||2024|
|Mexico||H. Rodriguez||25 million||2022|
|United States||Austin||25 million||2021*|
|France||Paul Ricard||22 million||2022|
|Monaco||Monte Carlo||15 million||2021*|
May 31, 2022
(GMM) Top Monaco GP official Michel Boeri has admitted he is in difficult negotiations with Liberty Media over the uncertain future of F1’s most famous race.
The Automobile Club de Monaco president, who is also a top FIA official, confirmed reports that the main sticking point with Liberty is the F1 owner’s desire for more control.
“That is, let them rule the track, the commercials, the awards ceremony, the marshals – all of that,” Boeri told Monaco Info.
“I’m sorry, but we did 79 grands prix and as far as I’m concerned, it’s clear that I’m not close to following them in all of their requests,” he insisted.
“You might think that I’m not flexible enough, but I still think, as far as Monaco is concerned, that it’s not a grand prix that is modelled on the others.
“Contrary to what Liberty thinks, the uniqueness of each race is essential.”
Monaco’s current race deal has now expired, but Boeri reveals that negotiations have at least resulted in agreement on “the essential topics”.
“For the moment we have a continuous dialogue and everyone plays their role – they are there to take our advantages and we are there to keep them. They’re not completely flabbergasted and neither are we.
“There may still be 10 percent to negotiate,” Boeri added.
Meanwhile, after some suggested it was a power failure rather than the poor weather that delayed the start of Sunday’s Monaco GP, a spokesman for the race told us that was in fact “not the case”.
Lewis Hamilton pointed the finger at F1’s new race management for being too cautious.
“We are Formula 1 drivers so rain is not a good enough reason,” said the seven time world champion.
May 31, 2022
(GMM) Monaco’s Prince Albert is confident the Principality will retain its iconic Formula 1 street race.
As F1’s owner Liberty Media expands to exciting new venues including Miami and Las Vegas, it has become clear that even the sport’s most historic races like Monte Carlo are no longer safe.
“If Monaco was a new circuit coming on to the calendar now and they said ‘You’re going to have the lowest fee and you won’t be able to overtake’, it would never be accepted,” Red Bull team boss Christian Horner said.
“If you stand still, you’re going backwards, and I think that applies to all aspects of the sport.”
According to the French sports daily L’Equipe, Prince Albert II of Monaco has acknowledged the need for changes – especially to spice up the on-track show.
Monaco’s current F1 contract expires after Sunday’s race, with L’Equipe claiming “negotiations are underway for a three or five-year extension”.
Prince Albert is quoted as saying: “Our history speaks for us.”
Alfa Romeo team boss Frederic Vasseur said: “For sure Monaco is important for us.
“We know perfectly well that it’s an historical grand prix. But at the end of the day, it will have to come from them, because they can’t stay old fashioned.
“And I’m not just thinking about Monaco. It’s a good lesson for all grands prix,” said the Frenchman.
May 18, 2022
(GMM) Formula 1 team bosses admit that rumors suggesting Monaco needs to change gear in order to keep its historic annual street race on the calendar are not wide of the mark.
As the sport dramatically shifts gear with new races at venues including Miami and Las Vegas, it is becoming clearer that even blue-riband events like Monaco, Spa and Monza are not safe.
“Obviously things are changing,” Haas boss Gunther Steiner said.
“We always need to evolve and develop, and if staying current means the model has to change, I think it needs to change. We cannot live in the past,” he added.
“Hopefully, Monaco can stay on the calendar with the right circumstances.”
As ever in F1, it is clear that financial considerations are at the very heart of the problem with Monaco, as organizers pay what is believed to be the lowest race fee among all grand prix promoters.
“I think if Monaco was a new circuit, and they said ‘You’re going to have the lowest fee of every single circuit and you’re going to go there and can’t overtake’, it would never be accepted on the calendar,” Red Bull’s Christian Horner said.
“We accommodate Monaco because of its heritage and because of its history – that’s it. I think that you’ve got to evolve.
“If you stand still, you’re going backwards, and I think that applies to all aspects of the sport,” he added.
Alfa Romeo chief Frederic Vasseur agrees that Monaco “can’t stay old-fashioned” and expect its grand prix to stay on the calendar.
“And I’m not just thinking about Monaco,” he said. “It’s a good lesson for all grands prix.”
June 2, 2021
The contract between F1 and the Automobile Club de Monaco (ACM)to host the Monaco GP expired after this year’s race.
F1 charges Monaco the lowest sanctioning fee ($14 million per year) of any F1 race because of its prestigious. However, word on the street is that Monaco will have to pay a lot more money to get a renewed contract. As a comparison, Saudi Arabia is paying $70 million per year to join the circus this year.
F1 also wants them to consider lengthening the track from its current 2.0-miles – the shortest on the calendar – because passing is impossible for today’s F1 cars.