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JOHNNYBET

Monaco agrees new 10-year deal

NEWS STORY
28/07/2010

Bernie Ecclestone has agreed a new deal with the Automobile Club de Monaco which will see the Grand Prix continue in the Principality for a further 10 years.

Recently, as CVC seeks to increase its revenue from the sport, which means seeking out new hosts with bulging coffers, Bernie Ecclestone warned - not for the first time - that some of the existing races could be dropped if they were not willing to match the sort of money offered by those new countries joining the calendar. Indeed, for the first time, Ecclestone threatened to drop Monaco - widely seen as the Jewel in the sport's crown - from the calendar.

"I think we can do without Monaco," he told Chris Sylt, adding "they don't pay enough."

While there was enough panic to cause the Automobile Club de Monaco to issue a statement denying the threat, it was widely seen that Ecclestone's move was merely to apply pressure not only to Monaco but to other European race promoters.

However, as far as the Principality is concerned, and whatever financial deal was agreed, today's meeting between Ecclestone and Michel Boeri has resulted in a new 10-year deal.

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