The Monaco Grand Prix will stay on the Formula One calendar until 2020 at the very earliest after signing a new ten-year agreement with Formula One Administration (FOA). Monaco's current deal to host the race ended after this year's event, but the prestigious Grand Prix will now stay on the calendar, having been a permanent fixture since 1955.

F1 supremo Bernie Ecclestone, CEO of commercial rights holder FOA, met with Michel Boeri, president of the Automobile Club de Monaco, organisers of the race, in London today to hammer out a deal. No financial details of the agreement were published.

The date of next year's Monaco Grand Prix was also confirmed for May 29, 2011.