Monaco's F1 future under scrutiny, drivers want it to stay

MONACO (AP) — Cities across the globe are clamoring for a Formula One race and willing to pay astronomical fees to land a grand prix. The demand has put the Monaco Grand Prix, one of F1's marquee events, in jeopardy.

Impossible, one would think.

After all, F1 is as much part of the tiny principality’s image as Grace Kelly and Monaco's famed casino. The grand prix also forms motorsports' Triple Crown along with the Indianapolis 500 and 24 Hours of Le Mans.

While the promoters of Monaco pay F1 a sanctioning fee, it's believed to be nominal and around $15 million annually. Other cities pay closer to $60 million per year. F1 is in the final year of its contract with the Monaco Grand Prix, and if financial negotiations don't improve, the circuit could fall from the 2023 calendar.

“I think Monaco has had a very advantageous commercial agreement with Formula One forever, and I think all Formula One is trying to do is to get a commercial agreement in place that’s more consistent with the other venues, while recognizing its importance on the calendar," McLaren Racing head Zak Brown said.

“I think Formula One is now of a size and scope that it’s bigger than any one team, bigger than any one driver and bigger than any one race. I think, of course, none of us would want to see Monaco go but also understand as commercial rights holder, they need to have an arrangement that’s more consistent with the other venues given the demand of tracks that want to host grand prixs.”

F1's popularity is booming, in large part due to the four-year run of the Netflix docuseries “Drive To Survive.” Now Saudi Arabia has a long contract with F1, a 10-year deal with Qatar begins next year and Bahrain expanded its deal through 2036.

Miami was added to