Monza is set to remain the venue of choice for the future of the Italian Grand Prix when its current deal expires at the end of 2016, according to Angelo Sticchi Damiani, the head of the Italian Automobile Club (ACI).
The historic race's presence on the F1 calendar had been in jeopardy as it was short of achieving the necessary franchise fee demanded by FOM.
But a recent legislative amendment which now allows the ACI to assume funding for the event has put it once again in the good graces of Bernie Ecclestone.
"The Autodromo di Monza has had difficult times, but the worst is over and now we are close to signing with Ecclestone to have Formula 1 in Brianza for another seven years," Damiani told the Gazzetta dello Sport.
"We're going to win a battle that led to the ACI making tremendous sacrifices."
With the exception of 1980, Monza has been a fixture on the Grand Prix calendar since the inception of the World Championship in 1950.
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