F1 have announced that the will remain on the calendar until 2031, but critically, from 2026 onwards it will be moved from Memorial Day weekend at the end of May to the first weekend of June.
This is exciting for race fans across the world as it means that, provided F1 opts not to fill that weekend with another Grand Prix, drivers will have the chance to compete in the Indianapolis 500.
Unlike the other rounds of the championship, the Indy 500 allows drivers from other series to try their hand at qualifying, giving them a shot at competing in and winning at the legendary Indianapolis Motor Speedway.
When famous guest drivers make the switch it becomes front-page news, as 29-time NASCAR Cup Series race-winner Kyle Larson witnessed in 2024. Fernando Alonso also witnessed this during his three attempts at the Brickyard, but he failed to finish higher than 21st.
While it is unclear whether or not contractual restrictions would prevent active F1 drivers from attempting the Indy 500 in 2026 and beyond, many will be eyeing up the opportunity.
However, with the Monaco GP moved to the first weekend of June, what is widely considered the greatest weekend in motorsport has been thinned down.
On Memorial Day weekend, fans can typically enjoy F1's most prestigious race, along with the Indy 500, the Coca-Cola 600 - NASCAR's longest event - and in 2025, MotoGP's race at Silverstone.
Explaining the new agreement, F1 CEO Stefano Domenicali explained: "I'm delighted that Formula One will continue to race in Monaco until 2031. The streets of Monte Carlo are unique and a famous part of Formula One, and the Monaco Grand Prix remains a race that all drivers dream of winning.
"I would like to extend a special thanks to H.S.H. Prince Albert II of Monaco, Michel Boeri, President of the Automobile Club of Monaco and everyone involved in the extension of this important partnership. This agreement signals a new era of partnership and innovation between Formula One and Monaco.
"It is the future focused leadership of H.S.H. Prince Albert II of Monaco which will allow us to create an optimised calendar, which reduces pressure on logistics, and to decrease the environmental impact of our global Championship, as we continue the path towards our Net Zero goal by 2030."
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