The Italian Grand Prix will continue to be held at Monza for at least five more years after Formula 1 officials announced on Wednesday that a new deal had been signed.

Italy has faced significant pressure to remain on the F1 calendar in recent years amid uncertainty over Monza's future, but F1 announced earlier this year that it had an agreement in principle to continue to race at the circuit beyond the end of its contract in 2019.

In an announcement made at Ferrari's fan event in the centre of Milan on Wednesday, F1 CEO and chairman Chase Carey confirmed that the deal had been signed, securing the Italian Grand Prix's future for five more years.

"We are really pleased to have reached an agreement with the ACI which ensures the Italian Grand Prix will remain on the FIA Formula 1 World Championship calendar until at least 2024," said Carey.

"This is one of four Grands Prix that were part of the 1950 championship and still features in the calendar and along with the British Grand Prix, it is the only one to have been held every year since then. History, speed and passion are words that motorsport fans associate with Monza. The feeling one gets at this Grand Prix is truly unique, as is the circuit’s distinctive podium.

"I would like to thank the ACI, especially its President, Angelo Sticchi Damiani for its efforts and this five year deal means that another part of the jigsaw for the Formula 1 of the future, is now in place. The championship features many historic venues such as Monza and also new countries in which the already vast fan-base of our sport can grow.

"For now, we can look forward to what is bound to be another great race this weekend, as we prepare for the 2020 Italian Grand Prix and in
the years to come."

Damiani added: "It is just like winning a Formula 1 Grand Prix, a very hard and important one, fought to the finish line - which counts as not one but five titles! It’s with great satisfaction that I welcome the conclusion of the agreement between ACI and Formula 1, which guarantees the inclusion, for the next five years, of the Italian Grand Prix in the calendar of the Formula 1 World Championship, and ensures that the event will take place in the ‘Temple of speed ': the Monza Eni Circuit, not only the oldest but also the fastest and most spectacular circuit of the whole motorsport.

"A great outcome for ACI, for Monza, for the Lombardy Region and Italian sport in general, which opens up a five-year perspective to build a future that matches the legendary past that has made Monza a world capital of motorsport.

"It was a challenging journey to get to this outcome and is one of those race victories that makes us forget every risk, every effort, and leaves inside a great joy and an uncontrollable desire to celebrate."



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