Ferrari and Monza celebrated their 90th anniversaries in style on Wednesday with Formula One providing the icing on the cake with a new contract securing the Italian Grand Prix until at least 2024.

The announcement was made to a sea of Ferrari ‘tifosi’ flooding Milan’s cathedral piazza for an event attended by world champions, team bosses past and present and future prospects including Michael Schumacher’s son Mick.

“We’re very excited,” said Formula One chairman Chase Carey.

“Monza’s one of our defining races, our iconic races. “The Italian fans are second to none, all you have to do is look at that crowd. It’s a great part of the sport and we couldn’t be more excited to have this race in place for the next five years.”

Monza agreed a deal in principle back in April but the signing means all 22 races on what will be the biggest ever calendar next year now have firm contracts in place.

Next year will also see the debut of Vietnam and the return of the Dutch Grand Prix, with Germany no longer featuring.

Italy and Britain are the only countries to have hosted races in every year since the world championship started in 1950.