The move would also end what has become a "greatest (if not longest) day of racing" in the U.S. where the F1 Monaco Grand Prix, Indianapolis 400 and NASCAR Coke 600 from Charlotte traditionally run back-to-back-to-back the Sunday of Memorial Day weekend.

The Monaco Grand Prix is the crown jewel of the F1 calendar, an event that combines the sport’s rich history with some of the most stunning — and glamorous — images the seas

Formula 1 has extended a contract with the Monaco Grand Prix for six more years. The famed city circuit will stage F1 till 2031.