The Monaco Grand Prix will remain on the Formula One calendar after a new 10-year deal was agreed with Bernie Ecclestone.

The future of the famous race around the streets of the principality had come under scrutiny recently when Ecclestone commented that the sport could do without its blue-riband event.

The race is now due to return to its traditional end of May spot on the calendar after talks between Ecclestone and Automobile Club de Monaco president Michel Boeri in London today.

A statement read: "Bernie Ecclestone and Michel Boeri met today in London and have agreed to extend the contract between Formula One Administration Limited and Automobile Club de Monaco for a further 10 years.

"The next Monaco Grand Prix will take place in May 29th, 2011."