The Monaco Grand Prix has just signed a new contract ensuring the future of the race through to 2020.

SkySports’ report says:

The Monaco Grand Prix has signed a 10-year contract extension despite recent comments from Bernie Ecclestone suggesting its place on the calendar may be under threat.

The race has been an annual fixture in the Formula One World Championship since 1955 but commercial rights holder Ecclestone has suggested that the sport could cope without the prestigious event.

“The Europeans are going to have to pay more money or we will have to go somewhere else,” Ecclestone was quoted as saying by The Independent.

He added: “We can do without Monaco. They don’t pay enough.”

However, Ecclestone’s Formula One Administration announced in a statement on Wednesday that a new 10-year deal had been agreed with Michel Boeri of Automobile Club de Monaco after a meeting in London.

For Monaco Grand Prix tickets visit monacoproperty.net/grand_prix