Italian Grand Prix takes step towards new five-year deal with F1

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The Automobile Club d'Italia claims to have reached a commercial agreement with Formula One to keep the Italian Grand Prix at Monza until 2024.

Monza's current contract due to expire after this year's running of the Italian Grand Prix, making the circuit one of five races up for renewal at the end of 2019. However, the ACI issued a statement on Tuesday saying the commercial side of a new deal had been agreed, allowing progress to continue on a contract to keep the race on the calendar for another five years.

"ACI and Formula One 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 statement read.

"The General Council of the Automobile Club of Italy has therefore given a mandate to President Angelo Sticchi Damiani to continue the negotiation with Formula One on all the technical and commercial aspects related to the partnership, in order to reach, in a short time, and sign the contract and make the collaboration fully operational."

Formula One's contracts with the British, Spanish, Mexican and German Grands Prix are also all up for renewal at the end of the year.

Reports this week suggested a new contract had been signed to keep the British Grand Prix at Silverstone for another three years, but the circuit tweeted a statement on Tuesday to say the deal had not yet crossed the line.

The Spanish and German Grands Prix both look under threat, with a Dutch Grand Prix at Zandvoort being lined up to replace the Spanish round in early May next year. The German Grand Prix is being paid for by Mercedes this year after host circuit Hockenheim could not afford to remain on the calendar independently when its previous contract expired last year.

A Vietnamese Grand Prix will also be added to the calendar next year after Formula One agreed a deal to host the inaugural race in Hanoi next April.