MONACO (AP) — Formula 1 extended its contract with the Monaco Grand Prix for four more years on Friday, keeping one of the sport’s most iconic races on the calendar until 2035.

It is the second contract renewal in less than 12 months for Monaco, which signed a six-year extension to 2031 last November.

Monaco was first raced in 1929 and held the second official Formula 1 World Championship race on its twisty streets back in 1950. It has been part of the F1 calendar since 1955, excluding the COVID-hit 2020 season.

“The renewal of the Monaco Grand Prix until 2035 is in keeping with a sporting and historical tradition to which the principality remains deeply attached,” Monaco’s head of state Prince Albert II said.

“I can only welcome this renewed commitment, which is testament to our collective success, the excellence of our collaboration with Formula 1, and the unique place that Monaco occupies in the international motorsport landscape.”

With old-school glamour and a harbor filled with luxury yachts, Monaco is known as “the jewel in the crown” of F1, but it’s by far the slowest circuit of the year.

Tight, twisty and not really suited to modern F1 cars, Monaco is a throwback to the series origins in the 1950s. Overtaking is so difficult that Saturday’s qualifying session is arguably more important than the race. With barriers close to the track, even the smallest mistake can mean a crash.

“The streets of Monaco have been echoing with the sound of Formula 1 since the earliest days of the sport, so I’m delighted to announce the extension of this fantastic event to 2035,” F1 chief executive Stefano Domenicali said.

“It is an iconic race that is loved by all drivers and fans, with a unique vibe thanks to its location on the world’s most glamorous principality.”

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