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There is a similar situation around here with a new super safe, yet rather sterle track being recently opened, and the old track, which was called unsafe by nearly everyone. The thing is once they have their new safe track, they find it too boring, and complain.
As far as F1 and Monaco, well, it has out grown the place, but you would have to think there are pressures from the sponsors. It is the biggest meeting on the calendar, and would have soem extra people watching, which is what the sponsors want.
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