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Mugello has thrown its hat into the ring as a future venue for the Italian GP.

The track in Tuscany, which is owned by Ferrari, is eyeing a spot on the F1 calendar for when Monza's newly-inked contract expires in 2024.

"The first objective will be to renew the agreement with MotoGP," Mugello director Paolo Poli told Corriere dello Sport.

"But then in five years we will also think about applying to bring Formula 1 to Tuscany."

Poli said Mugello continues to enjoy the full backing of its owner, Ferrari.

"Unlike other Italian circuits, Mugello is not state run," he said. "From 2006 to 2016, Ferrari made huge investments to raise the infrastructure quality.

"The bar is constantly rising and we are ready to keep that pace."

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