The Italian Grand Prix's future at Monza has been secured after race chiefs agreed a new three-year contract on Friday, but the final sign-off of the contract will still take some time.

Formula 1 supremo Bernie Ecclestone joined FIA president Jean Todt and ACI chief Angelo Sticchi Damiani at a press conference to confirm the new deal.

"Regretfully legally we can't sign it here - but more important is that we have an agreement thanks to our lawyers and we are getting all the small details sorted," said Ecclestone.

"There is no problem in having the race here. The contract will be for three years but I hope we are here for 100 years.

"We are going to sign it in London. We cannot sign it here, but everyone should be happy we are going to keep the race at Monza."

When asked why the deal is for three years, he said: "We have to do an arrangement that suits everyone. The world changes so quick so who knows what is going to happen."