Fears over the future of the Monaco Grand Prix have faded as the iconic street circuit secured a new multi-year contract extension with Formula 1.

The Monte Carlo circuit will remain on the F1 calendar until the start of the next decade, at least, with F1 confirming it has extended its contract with the Automobile Club of Monaco.

The Monaco Grand Prix appeared to have fallen out of favour in recent seasons, with the historic circuit the most likely on the calendar to produce 'boring' races thanks to its narrowness preventing much by way of overtaking.

With Monte Carlo overtaken by plenty of land reclamation work and building, the picturesque nature of the Principality for TV audiences has dissipated and thanks for several new street circuits such as Las Vegas and Miami joining the calendar, the unique challenges and opulence of Monaco were no longer quite as unique.

It's resulted in fans being very divided on the sentiment regarding Monaco, on one hand, the processional nature of the race is a unique challenge in itself, and its history stems back a century as one of F1's most iconic venues, but the forward-thinking nature of F1 in recent years suggested Monaco could fall away from the calendar.

But that day won't be coming soon, with F1 confirming a six-year extension to take the Monaco Grand Prix through until 2031, the first championship Monaco GP was held on the streets in 1950, and has been ever-present (aside from the COVID season in 2020) ever since.

F1, in announcing the race, emphasised the impact of the Monaco Grand Prix on viewers.

"As Formula 1 experiences significant growth around the world, the appeal of the Monaco Grand Prix continues to be felt," it said in a press statement.

"The 2024 Grand Prix weekend was watched by a cumulative audience of over 70m fans and was the most watched edition of the race in US history, and the third most-viewed F1 race of all time in the US.

"With this agreement the Automobile Club of Monaco, in coordination with the Principality, has made a significant commitment to Formula 1's sustainability endeavours and its ambition to create a calendar which is sustainable for all stakeholders."

In recent years, a break with tradition in Monaco occurred as the usual Thursday practice session/Friday day off came to an end to run a normal weekend schedule, while Monaco will no longer host the race in a traditional May slot.

"From 2026, the Monaco Grand Prix will be contested on the first full weekend in June each year," F1 confirmed.

"The 2025 Monaco Grand Prix will take place next year from 23-25 May and will mark the 75th anniversary of the race's official F1 debut."

In making the announcement, F1 CEO Stefano Domenicali revealed his "delight" the race will remain on the calendar.

"The streets of Monte Carlo are unique and a famous part of Formula 1, and the Monaco Grand Prix remains a race that all drivers dream of winning," he said.

"I would like to extend a special thanks to H.S.H. Prince Albert II of Monaco, Michel Boeri, President of the Automobile Club of Monaco, and everyone involved in the extension of this important partnership.

"This agreement signals a new era of partnership and innovation between Formula 1 and Monaco.

"It is the future-focused leadership of H.S.H. Prince Albert II of Monaco which will allow us to create an optimised calendar, which reduces pressure on logistics, and to decrease the environmental impact of our global Championship, as we continue the path towards our Net Zero goal by 2030."

Michael Boeri of the ACM said: "I would particularly like to thank H.S.H. Prince Albert II of Monaco, Stefano Domenicali, and everyone involved in the extension of this contract.

"The signing of this new agreement with the Formula One Group until 2031 not only confirms the strength of our relationship but reaffirms our commitment to offering all visitors an unrivalled, first-class experience at race weekends. The Monaco Grand Prix is the most important sporting event here and continues to attract hundreds of thousands of spectators to the Principality and millions of global television viewers worldwide."