Italian GP staying put until 2016

Monza officials have signed off on a deal that will see the Italian Grand Prix stay at the circuit until at least 2016.

Officials of the famous circuit confirmed on Thursday that an agreement had been reached with F1 supremo Bernie Ecclestone to keep the race there for the best part of the decade, the previous contract having been set to expire after the 2011 event.

Monza has held all but one of the Italian Grands Prix since its inception 60 years ago - holding more world championship races than any other track - with only Imola in 1980 also getting a look-in. And the five-year extension was confirmed at a Thursday press conference.

Rome had been hopeful of taking over from the legendary circuit, though a street race remains on the cards for the Italian capital in the future, possibly in 2013.

This year's Italian GP takes place at Monza on September 12.