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McLaren F1 driver Lando Norris says he is moving to Monaco

McLaren's Lando Norris has announced he is moving from England to Monaco, with financial reasons playing a part in his decision.

The 22-year-old Briton has had a standout season with his Woking-based team and signed a multi-year contract extension in May.

"It's something that obviously a lot of drivers do," he told British media of the move. "Especially, with how racing is, we've seen for other drivers how quickly things can also go downhill.

"I still have to look after my life and things for my future."

Monaco is a home to many of his Formula One rivals, including compatriot and seven times world champion Lewis Hamilton as well as Australian McLaren team mate Daniel Ricciardo.