Monza has agreed a deal to host the Italian Grand Prix for the next three years, it was announced on Friday.

The circuit has welcomed F1 more than any other, having staged 65 Grands Prix, but its use appeared under threat when Formula One supremo Bernie Ecclestone branded it a "disaster" from a commercial point of view.

Imola - former host of the San Marino Grand Prix - was even reported to have signed a deal to take over hosting duties.

Monza's future as an F1 venue is now set to be secured, although the contracts are yet to be signed.

"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."