Last updated on .From the section Formula 1

Thousands of fans flock to the Monza circuit every season

The future of the Italian Grand Prix has been secured with a new three-year deal between F1 and the Monza circuit.

Race organisers have been in protracted discussions with F1 boss Bernie Ecclestone over a new deal for the last two years.

A financial agreement has now been reached and Monza will continue to host the race until at least 2019.

The contract was announced at a news conference with Italian prime minister Matteo Renzi on Friday.

The Italian Grand Prix is the oldest race on the calendar - Monza's history dates back to its first race in 1921.

However, the contract cannot yet be finalised because of a legal dispute involving the rival Imola circuit, which had been in talks with F1 about taking over the race.

Ecclestone said: "Regretfully, legally, we can't sign it here - but 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."

Ferrari's Sebastian Vettel added: "We all love this track. It is a fantastic track with a fantastic atmosphere.

"We should even race here if there was a bad deal for whoever is cashing in - Monza has to stay on the calendar, because it means more than just cash, it means history, tradition, racing, enthusiasm, Ferrari."

"Lift and coast? I don't think so, son." Juan Manuel Fangio, Giuseppe Farina, Felice Bonetto and Emmanuel de Graffenried prepare to race for Alfa Romeo in 1950

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