Formula 1's 'jewel in the crown', the Monaco Grand Prix, will not take place for the first time since 1954 in 2020, organisers confirmed.

On Thursday, F1 announced the race in Monte Carlo, along with the Dutch and Spanish Grand Prix's, had been postponed as a result of the ongoing coronavirus outbreak.

However, the Automobile Club de Monaco has now said the event, traditionally held on the final weekend of May, will not seek a new date.

“The current situation concerning the worldwide pandemic and its unknown path of evolution, the lack of understanding as to the impact on the FIA F1 World Championship 2020, the uncertainty with regards to the participation of the teams, the consequences with regards to the differing measures of confinement as taken by various governments worldwide, the multi-border restrictions for accessing the Principality of Monaco, the pressure on all implicated businesses, their dedicated staff who are unable to undertake the necessary installations, the availability of the indispensable workforce and volunteers (more than 1500) required for the success of the event means that the situation is no longer tenable,” tey wrote in a statement.

“As a result, and after careful consideration as to the gravity of this crisis worldwide, it is with great sadness that the Automobile Club de Monaco Board of Directors has taken the decision to cancel the 12th Grand Prix de Monaco Historique (8-10 May 2020) and the 78th Grand Prix de Monaco Formula 1, FIA world championship (21-24 May 2020).

“To all the fans, spectators, partners and our members, the Board of Directors wishes to express its sincere regrets that these two events cannot be postponed and under no circumstances, will it be possible to organize these events later this year.”

The cancellation is historic as only the Italian and British Grand Prix's have been part of the F1 championship for more consecutive years than Monaco.

And of course, given the prestige of the race around the streets of the Principality, it is a major blow to F1 even if it the only event on the calendar which does not pay a race fee.

This news caps of a very difficult day in Monaco after it was announced Prince Albert II has tested positive for the Covid-19 infection.