The Monaco Grand Prix has extended its contract to host a round of the Formula 1 world championship for another ten years.
Bernard Ecclestone and Michel Boeri, president of the Automobile Club de Monaco, agreed the deal in London today.
The news comes a few days after the race organisers rebuffed remarks by Bernie Ecclestone saying the prestigious race was no longer needed on the F1 calendar.
Monaco has featured in every year of the world championship since 1955.
Read more: F1 2011 Season