Monaco's historical grip on Formula 1 faced challenges under Liberty Media ownership. Despite the principality's deep connection to F1 since 1950, modern cars rendered the tight circuit unsuitable for competitive racing. The local handling of television production conflicted with F1's global presentation standards, creating friction with the US owner that acquired the sport in 2017.

Liberty Media implemented significant changes to secure Monaco's place on the calendar. F1 took control of TV production in 2023 while the promoter relented on circuit advertising restrictions. Crucially, the switch from Rolex to Tag Heuer (part of LVMH) resolved sponsorship conflicts. Monaco now pays approximately $32 million annually to host the race, substantially more than the €10-12 million paid before these changes.

Despite criticism that Monaco has become more procession than race, the principality secured an extension through 2035. The premium paid by Monaco reflects its unique position on the F1 calendar, where yachts, glamour, and exclusivity compensate for on-track limitations. Even with new business races in Austin, Miami, Las Vegas, and Singapore, Monaco maintains its status as the sport's most prestigious event, demonstrating that history and cachet command premium value.