In 1978 Mario Andretti said of the Monaco Grand Prix, “This is a very special race. It's the most colourful Grand Prix in the world, and it's really classy here.” 38 years on and the quote doesn’t feel at all dated.
Still the jewel in the Formula One crown, the Monaco Grand Prix is the most prestigious and glamorous race on the calendar. The iconic street-circuit, delineation of which is overseen by the Automobile Club de Monaco (ACM), has held a Grand Prix every year since 1929 and has been on the on the Formula One roster since 1955.
Monte Carlo, the uber-affluent principality on the Cotes d’Azur, transforms itself from a luxurious playground for the rich to a fully functioning racetrack, each year in May. The race takes place a week after the international Cannes film festival and has the cache of attracting countless famous faces from around the world. The exclusive Yacht Club and harbour is awash with a plethora of A-list celebrities and global sports stars. According to Nigel Geach, Monaco “is still the place to be seen.”
Located alongside the super-yacht lined Hercule Harbour every inch of the picturesque circuit is recognisable and tinged with nostalgia – La Rascasse, the tunnel, and Casino Square are steeped in Formula One folklore.
The Monaco Grand Prix is promoted by the ACM, under the patronage of the ruling Monegasque Grimaldi family, and its president Michel Boeri. Boeri has a long-standing and cordial relationship with Bernie Ecclestone – the Formula one kingpin is aware that the Monte Carlo race is the most vital race on the calendar and has rarely attempted to upset the apple cart in race negotiations. The ACM is treated more leniently than other venues and has a low race budget of €35 million, of which €10 is accrued from public funding.
The most recent ten-year deal between Boeri and Ecclestone was signed in 2010. Boeri has never had to cede rights to track sponsorship and the current deal guarantees that ACM can use its own broadcaster, allowing the principality to portray itself as it so desires. The renewal, likely at any point between now and 2020, will be a formality because it would be unfathomable to attempt a Formula One season without its sacrosanct race.
There is more to the Monaco Grand Prix than race day. The weekend plays host to a litany of drinks receptions, yacht parties, and sponsored events. Former Formula One driver and one-time owner of the Columbus Hotel David Coulthard, who has been a resident in the principality since 1994, says of his adopted home, “There are too many things to do in Monaco to fit them into 24 hours, however, I can suggest a good night out!”