The Automobile Club de Monaco has played down remarks attributed to Bernie Ecclestone by some media earlier this week.
Ecclestone was claimed to have said the famous round could be dropped from the world championship. A statement issued by the event organisers said:
The Automobile Club de Monaco does not intend to comment on the statement attributed to Mr Ecclestone regarding the future of the Monaco Formula 1 Grand Prix.
Assuming that the media who reported the statement checked it for validity with Mr Ecclestone, one has to take into account the context and intention behind the statement.
The reality is quite simple: The Automobile Club de Monaco and Formula One Management are currently engaged in negotiations.
When the time comes and an agreement is reached, the Automobile Club de Monaco will issue a press release.
Monaco has featured in every year of the world championship since 1955.
It is the only race on the calendar which retains the income earned from advertising at the circuit during its Grand Prix weekend. The signage rights for the other circuits are controlled by Allsport Management, which also runs the Formula One Paddock Club.
Read more: F1 2011 Season