Monaco GP changes coming?

Forbes' Formula One business journalist Christian Sylt has claimed that negotiations are ongoing between Prince Albert of Monaco and dignitaries involved with Mediterranean land ownership for the principality to reclaim 25 acres of land, which would see potential alterations made to the Monaco GP.

The Monaco Grand Prix is considered one of the most prestigious and important races in the history of motorsport, and along with Le Mans and the Indianapolis 500, forms part of the 'triple crown' of motorsport.

It has taken place at the Circuit de Monaco since 1929, with no major structure overhauls taking place since the 1970s, with the acquisition of the proposed new land set to cost around two billion euros.

Sylt reports for Forbes some comments by Prince Albert on the future of the GP.

"I am not saying that it will happen necessarily, but at some point we are going to put our minds together and say, how can we not only improve this, but how can we make it a little more exciting by maybe changing the course slightly?" Prince Albert said.

"We haven't gone beyond this simple statement of an idea -- something that is in the back of our minds."

Albert went on to weigh in on the future of Ferrari in the sport, with the Prancing Horse repeatedly threatening to leave F1 over concerns about the direction and vision of the owners, Liberty Media. The Monaco monarch believes Ferrari and the Monaco Grand Prix are the two constants in the sport that must remain.

"Ferrari and Monaco are the two most important things to Formula 1," he said.

“There is such a history and such a mystique around the name of Ferrari and the success that it has had.

"It is such a part of the history of the sport that I can't envisage an F1 season without the Monaco Grand Prix."

If the alterations are to be given the green light, it is believed they would not become apparent until the 2025 season of F1 at the earliest.