Three-year contract believed to be worth €68m (£57.2m)
Tuesday 29 November 2016 10:59, UK
The Italian GP will remain at the Monza circuit for at least another three years after a new deal was signed to retain the historic race.
Organisers were confident of a penning a contract worth €68m (£57.2m) after successful negotiations with Bernie Ecclestone back in September, and on Tuesday its future was finally confirmed.
"The renewal of the contract for the Italian GP at Monza has been signed," the circuit announced on Twitter.
The head of the Italian motorsport federation (ACI) Angelo Sticchi Damiani said: "We have avoided the possibility that, after 70 years, Italy could lose the most prestigious, historic and fascinating automobile races in the world."
Imola was suggested as a possible alternative, stating they had a five-year deal agreed with Ecclestone earlier this year, but Monza, the main host of the Italian GP since 1929, remains.
