The FIA Formula 2 championship was introduced in 2017, following the rebranding of the long-term Formula One feeder series GP2.
The Automobile Club de Monaco has been in talks with Formula One, with the existing contract expiring after this weekend's event.
Formula One has been harmed not just by growing prices, but also by the increasingly limited availability of freight capacity.
The Chinese driver began the Saudi Arabian race in 12th place, but was quickly penalised with a five-second stop-and-go penalty.
During the final minutes of Q2, the German driver was in a good position to make it into the final part of qualifying when he lost control.
When the lights went out at Jeddah, the Mexican made history by becoming his country's first-ever F1 polesitter.
Alpine had made it clear to its drivers that they would be allowed to race each other, just as they had in Bahrain.
Magnussen's Jeddah weekend got off to a shaky start, as he finished both Friday practise sessions in P20 due to a series of reliability issues.
With a second wind in the closing stages, Charles Leclerc set the fastest lap, but reigning champion Max Verstappen kept him at bay.
After losing the back end of his Haas VF-22 after riding over the kerbs in Q2, Mick Schumacher spun heavily into the wall.