A ceremony at the Monaco Grand Prix on Sunday will mark the end of a 54-year race tradition
Monaco will end its race on the third Sunday of August after the introduction of a three-day format in 2022, Formula 1 commercial boss Chase Carey says.
The principality’s popular race will remain in summer despite an uncertain future.
“It is probably the most ‘endearing’ of all the races in my opinion,” he said.
“I think Monaco deserves three days.”
Monaco has been run as a two-day event since 1980, when it was moved from a weekend to a Sunday and from the second week of the month to the third.
In addition to an on-track session, the principality has seen F1’s traditional parade lap through the streets, as well as themed events with music and fireworks.
But the once-revved up atmosphere in the principality has slumped as its popularity in the wider world has waned.
Carey said: “Monaco is uniquely Monaco – it is Monaco in that it is the best example of Monaco but it is also the best experience of Monaco.
“I don’t think the downside will be that it will be lost and we will lose that unique Monaco experience, it may be that if we become more globally widespread and it is easier to visit than ever it is going to be a different experience.”
However, there is unlikely to be a race at Monaco in 2019, with the huge cost of staging a race of that size, at around £30m, beyond the reach of many teams.
Carey suggested it was not inconceivable that some races, such as Germany and Belgium, could be moved to later in the year in future.
He added: “The interesting thing is that if we are able to do away with those political shenanigans, if we are able to get away from those those politics, if we are able to integrate the broadcast rights so they are controlled by a single broadcast outlet, which has the rights to certain events, we see at the moment the biggest sport in the world doing this to professional level.
“In terms of revising the calendar, we’ve got a draft that is very favourable. There’s very few changes in the draft and the teams have been overwhelmingly supportive of those. It is going to be a draft we will settle very, very quickly. It should be a draft that will be implemented as soon as possible.”