Michel Boeri, president of the Monaco Automobile Club, has revealed his confidence that the event will continue to be on the Formula 1 calendar despite recent speculation over the event as the sport continues to venture into new markets and races.

The F1 calendar has grown to a potentially 23-Grand Prix long fixture list this season, and there continues to be talk that that could swell even further, with Las Vegas plotted for November 2023 and the likes of China and South Africa touted to host races once more.

That said, there's been talk that the more traditional tracks on the calendar might be at risk given they pay less, and Monaco pays pretty much the lowest of all, to host a race.

However, Boeri is quoted as saying that there is no need to worry over the status of the jewel in the F1 crown:

"It was implied that the fees required were too excessive for Monaco and that the Grand Prix would no longer be held. That's untrue. We are still in talks with them and must now seal the deal with a contract.

"I can guarantee you that the Grand Prix will keep taking place beyond 2022. I don't know if it will be a three or five-year contract, but that's a detail."

MONTE-CARLO, MONACO - MAY 26: Lewis Hamilton of Great Britain driving the (44) Mercedes AMG Petronas F1 Team Mercedes W10 leads Max Verstappen of the Netherlands driving the (33) Aston Martin Red Bull Racing RB15 on track during the F1 Grand Prix of Monaco at Circuit de Monaco on May 26, 2019 in Monte-Carlo, Monaco. (Photo by Charles Coates/Getty Images)

Monaco does sometimes split opinion. It's thrilling seeing the best drivers and cars in the world tackle the narrowest of circuits but, at the same time, the racing is nearly always going to be processional.

Of course, it's a track with huge history and prestige and rightly deserves to remain on the calendar, but it would perhaps be an added bonus if the circuit could be tweaked to allow for more overtaking.

How possible that is given the infrastructure around the circuit, though, is up for debate.