After nearly twelve months of speculation, it has finally been confirmed that the Italian Grand Prix will continue to be hosted at the world famous Monza circuit for an additional three years, bringing the current contract up to the end of the 2019 season. One of the most popular events for both fans and teams alike, it would have been a considerable own goal by the Formula One Management Group to allow such an historic event to be left by the wayside in Formula One's constant quest to enhance income for the sport. Grand Prix ringmaster Bernie Ecclestone has admitted that no formal contract has been signed at present, however the deal has been agreed in effect. "Regretfully legally we can't sign it here but more important is that we have an agreement thanks to our lawyers and we are getting all the small details sorted," Ecclestone stated. "There is no problem in having the race here. The contract will be for three years but I hope we are here for 100 years." The legendary Ferrari Tifosi will be delighted at the announcement of Monza retaining the rights to host Formula One Grand Prix events for a further three years. Despite Ferrari struggling somewhat for solid results in recent seasons, the ever loyal Tifosi continue to flock to the Italian temple of speed in impressive numbers to cheer on their beloved drivers, and this years event is expected to be no different. The 2003 Italian Grand Prix still remains the fastest Grand Prix in Formula One history. Champion elect Michael Schumacher clocked an incredible 247km/h average speed in his Ferrari on route to claiming yet another Grand Prix victory for the Italian squad. Take a quick pitstop (sorry couldn't help it) at the RaceDepartment Formula One sub forum for news and discussion regarding the premier championship in motorsport. Happy to see Monza remain on an ever diversifying calendar? Been to the track yourself and want to share your experiences? Let us know in the comments section below!