The Automobile Club de Monaco (ACM), organizer of the Monaco Grand Prix, has issued a statement in reaction to comments made by Bernie Ecclestone to Pitpass' business editor Chris Sylt, when the F1 supremo suggested that the event could be dropped from the calendar.

Ecclestone made the comment to Sylt during one of their regular lunches, and while much of what is said is usually off the record, the F1 supremo's comments about the possibility of Monaco being dropped from the schedule were very much on the record.

As F1 seeks to maximise revenue, the fact is that the teams are only willing to contest a maximum of twenty races a year. Therefore, as more and more countries seek to sign up to F1, some of the established events face the chop.

While some immediately think of Hungary or Turkey, Ecclestone dropped his bombshell when he told Sylt: "I think we can do without Monaco, they don't pay enough."

In response to Ecclestone's comment, which one blogger - not known to have access first hand to quotes from the major players such as Ecclestone - dismissed as not credible and an example of the F1 supremo's manipulation of an uncritical media - the ACM has issued the following:

"The Automobile Club de Monaco does not wish to comment on the statement given by Mr. Ecclestone relating to the future of the Monaco Formula 1 grand prix.

Assuming that this information is verified by Mr. Ecclestone and the media where it was reported, one must still understand the context under which such sentiments were made.

The reality is much simpler: a negotiation is ongoing between the Automobile Club de Monaco and Formula One Management.

In time, the Automobile Club will not fail to communicate the signing of an agreement."

While Ecclestone is known for his keen sense of humour, and even his ability to manipulate - especially with a new Concorde Agreement in the pipeline - he is not so well known for his sentimentality as any number of (former) team owners, race organizers, governments and circuit owners will attest.