Monza will continue to host the Italian Grand Prix until at least 2019, following the signing of a new contract with Formula 1 bosses.
Negotiations for a new deal have lasted for more than a year as organisers struggled to raise the necessary funds, whilst the threat of losing the race to Imola – which had a contract to takeover hosting the race should Monza's deal fall through – added pressure to conclude a new contract as quickly as possible.
A provisional 'handshake' deal was agreed back in August, but only now has it been signed off by both parties, with an announcement on the circuit's Twitter confirming the news.
"The renewal of the contract for the [Italian Grand Prix] at Monza has been signed," read the tweet.
Italian motorsport federation (ACI) president Angelo Sticchi Damiani added: "We have avoided the possibility that, after 70 years, Italy could lose one of the most prestigious, historic and fascinating automobile races in the world.
"Now we move forward together, with the goal of making the Grand Prix in Monza, in the coming years, an even more important event, able to fascinate and attract more and more fans across the world."
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