Nov.18 (GMM) Michel Boeri, boss of the Automobile Club de Monaco, admits he is relieved the fabled street race will survive an expected European exodus from F1.
F1 CEO Stefano Domenicali hints that a new race rotation scheme, where European rounds are expected to have to settle for a grand prix every two years, will be outlined “soon”.
Monaco’s existing race deal was one of the least lucrative on the current calendar, and Boeri admits negotiations for a new contract through 2031 – which was announced last week – were difficult.
“It was ‘I love you, I don’t love you’,” he told Monaco Info. “The negotiations lasted at least six months.
“The problem was that as soon as we had a verbal agreement, we had to finalise it with a 60-70 page contract, written by American lawyers. It was a battle that went beyond the small clashes we had with Stefano Domenicali, who defended interests that were not mine.
“All that is in the past, it’s swept away,” Boeri added.
He admits he is particularly relieved Monaco, supposedly to pay double its previous annual race fee in 2026 and beyond, will not be subjected to F1’s looming race rotation scheme.
“Compared to other European grands prix, we have a few small advantages, but above all, there is no alternation,” said Boeri. “We will be there every year.
“Not only will many other European grands prix disappear, but those that remain will be in this alternation. I believe that with the demand that F1 has today, there will only be two or three grands prix left in Europe, with interest shifting to China and other continents.”