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The Automobile Club d’Italia (ACI) has reached a "general agreement" with Liberty Media to host the Italian Grand Prix from 2020 to 2024.
The circuit's current contract expires at the end of the current season, and the future of the event has been in question for some time.
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Negotiations can continue as the finer details are ironed out to secure a long-term deal.
The ACI has been keen on signing a new deal for some time, under the conditions that they are guaranteed improved financial conditions.
A statement from ACI read: "ACI and Formula 1 have reached a general agreement regarding the economic aspects of the collaboration contract for the Italian Grand Prix at Monza for the next five-year period 2020-2024.
“The General Council of the Automobile Club of Italy has therefore given a mandate to the President Angelo Sticchi Damiani to continue the negotiation with Formula 1 on all the technical and commercial aspects related to the partnership, in order to reach, in a short time, the sign the contract and make the collaboration fully operational.”
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I'm at the point where I no longer give a damn about all the "classic" races that are currently at risk. I almost want to see them be punished. Silverstone, Monza, Barcelona, screw them all. There are plenty of countries and organizations ready and willing to host the F1 circus. I am sick of ready news about Monza and Silverstone threatening to leave.