Future of Monaco Grand Prix remains in doubt

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Rhian Jones

There was a thrilling conclusion to the 2022 Monaco Grand Prix, as weather conditions impacted the race and made for an intriguing spectacle. But concerns are growing that in 2023, the Formula One calendar may not feature this iconic and historic circuit, amidst intense negotiations amongst power brokers of the prestige motorsport.

Pérez throws down the F1 Championship gauntlet

The 2022 Monaco Grand Prix was certainly one of celebration for Sergio Pérez, who managed to turn his third position start into a memorable victory, taking full advantage during a race packed with incidents due to the variable wet-dry weather conditions. He was joined on the podium by Ferrari driver Carlos Sainz Jr. and Red Bull teammate Max Verstappen.

Following the win at Monaco, his first of the 2022 season, 32-year-old Mexican driver Pérez has underlined his capability to challenge for the F1 Drivers’ Championship, even if the bookies are a little reticent about his chances.

At many of the leading betting sites around the world, his odds for the F1 crown vary between 23.00 to 29.00 using the decimal format.

Such a wide range of odds values underlines the benefits of comparing betting sites, which is precisely what Asiabet aim to provide throughout the Asian continental region. This includes country by country focus, such as detailing the best online sports betting websites () in Thailand, via comprehensive site reviews published in both English and the local language.

Interestingly, while there is plenty of betting focus to keep fans busy throughout the 2022 F1 season, the future of the Monaco GP continues to remain under a cloud of doubt.

Indeed, it could be the case that next year, Pérez and all the other drivers will not be racing at the venue, amidst speculation it could be removed in favour of another exotic location.

Formula One chiefs call for sweeping Monaco changes

Before, during, and after the race last weekend, questions were being raised about the future of the Monaco Grand Prix. This venue has become synonymous with Formula One, practically ever-present in the annual motorsport calendar since 1929, going on to be widely considered as the most important automobile races in the world.

Nevertheless, there are doubts about Monaco in the modern era, given that F1 wants changes in a number of areas, according to BBC Sport reports.

One element is financial, given that Monaco has always received preferential treatment, paying much less to host this annual slot in the calendar than the vast majority of other venues.

Monaco is the only venue where a local TV company provides all the broadcast coverage, as opposed to the official F1 broadcaster being in complete control everywhere else.

This has led to a perceived quality gap in coverage, amidst criticism that coverage from the race at Monaco is weaker than elsewhere. Monaco also has an advertising agreement unique to the venue, whereas tracks elsewhere must use in-house advertising sourced and provided by F1.

But perhaps the most telling aspect of negotiations is regarding the track itself. Overtaking at the tight street circuit has always been an issue for Monaco.

While this has typically been accepted as part of the event and what makes it unique, F1 believes that key changes to the circuit could make a genuine difference, such as removing the Nouvelle Chicane or widening Tabac at turn 12, although the Automobile Club de Monaco are reluctant to change too much.

F1 drivers keen to continue competing at Monaco

Perhaps the biggest threat to the Monaco GP is competition from elsewhere, especially from a commercial and financial perspective, given the tiny principality only pays a nominal fee of around $15 million annually to host Formula One races.

By comparison, other cities are paying $60 million or more, as competition intensifies for the prestige of hosting F1.

Most notable is the competition arising from the Middle East and North America. Saudi Arabia, Bahrain and Qatar have all expanded their deals, while Miami was added to the 2022 F1 calendar alongside Austin, with Las Vegas pencilled in to join the schedule from 2023.

Economically speaking, it’s hard to see Monaco competing on an even keel compared to those venues.

But aside from the financial and technical considerations, while the race itself is under close scrutiny by F1 chiefs, the vast majority of drivers want Monaco to stay part of the calendar. “I think it would be a bad move. F1 without Monaco for me is not F1,” Charles Leclerc told the Washington Post in no uncertain terms.

He underlined the need to protect and preserve the most historic tracks, “like Silverstone, like Monza” alongside own hometown circuit.

“It has a unique kind of aura about it,” enthused Australian driver Daniel Ricciardo, which in his view sets Monaco apart from any other F1 venue in the world. “I think it has to be in the calendar,” insisted Fernando Alonso, the former F1 World Champion who has won the race twice during his career.

Hopefully, the power brokers at F1 will take note of their leading stars, before any hasty and unfortunate decisions are taken.