Formula one's glamour event, the Monaco Grand Prix, has signed a 10-year contract extension only weeks after Formula One's commercial supremo Bernie Ecclestone suggested the sport could live without the showcase race, and that they don't pay enough.
Ecclestone's Formula One Administration says the 79-year-old had met Monaco representatives in London and agreed a 10-year extension.
Next year's Monaco Grand Prix will be on May 29.
