Monza secures deal to keep Italian GP for next three years

Formula One boss Bernie Ecclestone and the Italian Automobile Club have reached an agreement to keep the Italian Grand Prix in Monza for the next three years.

While the deal hasn't been officially signed yet, Ecclestone says it's a matter only of "small details" at this point.

He adds, "The contract is only for three years but I hope we will be here for another 100."

The deal is reportedly worth 68 million euros ($76 million), slightly less than the 25 million euros ($28 million) per year Ecclestone requested.

No circuit has hosted more F1 racing than Monza, which was on the inaugural 1950 calendar and dropped off only in 1980 when Imola hosted the Italian GP.