Formula One: Italian Grand Prix Remains At Monza

MONZA, Italy, (APP - UrduPoint / Pakistan Point News - 2nd September, 2016) - Formula One's veteran commercial ring-master Bernie Ecclestone announced Friday that Monza has agreed a new deal to retain the Italian Grand Prix.

He said a new-three year deal was agreed, keeping the Italian race at the famous old high-speed circuit from 2017 to 2019. "Regretfully, legally, we can't sign it here," said Ecclestone.

"But, and more important, is that we have an agreement thanks to our lawyers -- and we are getting all the small details sorted.

"There is no problem in having the race here. The contract will be for three years, but I hope we are here for 100 years." Briton Ecclestone, 85, and the president of the International Motoring Federation (FIA) Frenchman Jean Todt sat either side of Italian motor sport chief Angelo Sticchi Damiani at Friday's press conference.