Ecclestone – who previously suggested Formula One did not need a Monaco grand prix, saying "they don't pay enough" - agreed the deal in London yesterday with Automobile Club de Monaco’s Michel Boeri.
The next Monaco grand prix will be held on May 29 in 2011. The only other races confirmed beyond 2016 are the British grand prix at Silverstone, and a US grand prix at the new Austin circuit, due to hold its inaugural race in 2012.
The Monaco grand prix – which was this year won by Red Bull’s Mark Webber - dates back to 1929.
