Monza and Italy’s second race, the Emilia Romagna Grand Prix at Imola, both have contracts that run until the 2025 season.
F1 has not made a decision yet, though, on whether it thinks that both events or just one will remain on the calendar for the long term.
However, speaking last year, F1 CEO Stefano Domenicali said improving Monza’s facilities was critical if the venue was to have any chance of earning a contract extension.
“The historical value of Monza is beyond question, but we also need to keep up with the times in terms of services, which must be in line with the prices paid by those who come to the racetrack,” he said. “Within the next year, we will have clear ideas about the future."
Monza's efforts to improve things have now begun with a ceremony on the track's start-finish straight on Monday signifying the start of a 140-day redevelopment push.
Attended by Italian federation president Angelo Sticchi Damiani and Deputy Prime Minister Matteo Salvini on the circuit's straight, the event confirmed the key areas where work will take place.
The work includes a complete track resurfacing, the construction of a new underpass (plus the expansion of the three current ones), improved pit building facilities as well as a series of grandstand improvements.
Source: Autosport