Monza finally shakes hands with Ecclestone

Monza officials may finally have shaken hands with Bernie Ecclestone on a new deal to secure the future of the Italian grand prix.

The negotiations have been public, fraught and protracted but Italian automobile club chief Angelo Sticchi Damiani agreed terms last weekend in Monaco, according to Sky Italia.

"After the drafting of the contracts, the announcement regarding the years 2017-2020 will be made," the report added.

Sky said the latest meeting in Monaco, also attended by Ecclestone’s long-time friend and business partner Flavio Briatore, resulted in a deal regarding the until-now disputed financial value of the new contract beyond 2016.

The report continued: "Ecclestone has always said that his handshake is worth more than a written contract. Now the formal part will follow and, if everything goes well, Monza will announce the renewal shortly."