The Italian Grand Prix will remain at Monza for at least three more years after a new deal was finally agreed between Bernie Ecclestone and event organisers.

One of the oldest-serving venues on the calendar, Monza's F1 future has nonetheless been under threat for more than 12 months as negotiations between Ecclestone and organisers continually broke down over hosting fees and upgrade demand disputes.

However, with this weekend's race marking the end of its outgoing contract, a new deal has finally been reached that will see Monza continue to host the Italian Grand Prix in 2017, 2018 and 2019.

Though Ecclestone admits no contract has been signed, it has been agreed in effect.

"Regretfully legally we can't sign it here but more important is that we have an agreement thanks to our lawyers and we are getting all the small details sorted," he said.

"There is no problem in having the race here. The contract will be for three years but I hope we are here for 100 years."

The announcement ends Imola's bid to assume hosting duties under the Italian GP moniker. The circuit hosted the Italian GP once in 1980 - the only occasion Monza hasn't hosted it since 1950 - before becoming known as the San Marino Grand Prix in 1981 until it was dropped in 2006.