• Race to be slashed to three-day race from 2021 • French and German grands prix to remain in place
Monaco will lose its fourth race after 2020, in favour of a straight three-day format under the new agreement struck by the Formula One Group and the Monaco Grand Prix organisers.
This year, Formula One cancelled a contract with the local promoters to host a race from 2021, prompting Monaco organisers to initiate legal action.
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The new deal will see the annual race at the harbourside Circuit de Monaco, run by the LVMH group, run in successive races every two years.
“We can confirm that the four-race formula in place for the past ten years will come to an end in 2020,” the Formula One Group’s chief executive Chase Carey said in a statement.
“The qualifying evening will be shifted to later in the weekend and the Monaco Grand Prix will be raced on the same weekend, three days.
“This will mean we will have two further races in France and Germany and two additional races in the United States. We are very excited by this announcement and know it is going to be a big day for motorsport here in Monaco and throughout the world.”
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Details of the new programme will be finalised after discussions with track chiefs and partners in the coming months.
The fight to host a race has intensified with financial issues and publicity surrounding how other homes have impacted on the sport.
Austin, Mexico, Miami and Detroit are among those whose rights have been bought out since 1991.
This year’s event was in October, meaning for the first time in the history of the sport there was just one race in a given weekend.
In 2016, Monaco staged the first day-to-night race.
The race in Toulouse, home of Renault’s Formula One team, will also go straight to a two-race format.