The Italian circuit, which has only been absent from the Formula 1 calendar once since 1950, unveiled plans to secure a contract extension that would secure the grand prix at least until 2020.

Ecclestone has cast doubt over the future of the race several times, saying the financial conditions of the current contract are not good enough.

Despite Monza's confidence that it can now secure the future of the event, Ecclestone insisted the circuit will have to meet the financial conditions if it wants to stay on the calendar.

"It's a very simple situation. Two years ago I made a deal with one of the people who are no longer involved," Ecclestone told Gazzetta dello Sport.

"For Monza we applied the same economic conditions of the other European circuits [€20M for every GP]. All done, all good, we shook hands, but after that meeting nothing happened.

"There is a contract for the 2015 race, but not for future seasons.

"Yes, Monza is a part of F1 history, but they must pay."