He is the driver whose only F1 win came at the Monaco Grand Prix and Alain Prost once claimed was his most expensive driver

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The upcoming Monaco Grand Prix could make a claim to be the most iconic race on the Formula 1 calendar.

During the inaugural Formula 1 season in 1950, the Monaco Grand Prix was one of just six European venues the sport raced at.

It was where Ferrari made their F1 debut, and five-time champion Juan Manuel Fangio won the inaugural race on the streets of the Principality.

Every mistake is punished in Monaco with the track by far the narrowest and most difficult circuit to overtake on among the 24 races on the F1 calendar.

Sergio Perez discovered how costly a mistake can be at Monaco last season, making contact with Kevin Magnussen and ending Nico Hulkenberg’s race in the process.

The level of difficulty at Monaco creates some incredible and unexpected results.

The 1996 Monaco Grand Prix was a prime example of this, with Frenchman Olivier Panis taking the only victory of his Formula 1 career in bizarre circumstances.

READ MORE: The most successful drivers at the Formula 1 Monaco GP of all time

How Olivier Panis won the 1996 Monaco Grand Prix for his only F1 victory

Panis is among the F1 drivers who have only ever won one race, a club that Pierre Gasly and Esteban Ocon are also currently members of.

The Frenchman, speaking to Autosport about his unexpected victory, explained: “The whole weekend was a bit strange.

“I was quick in free practice, but I had an electronic problem in qualifying and was 14th on the grid.

“On Sunday morning, it was raining and I said to my wife, ‘I will finish on the podium.’ I felt something good was going to happen.

“I overtook seven cars in the wet and, after my pitstops, I made some more places.

“Everything I tried was a bit of a risk – when I passed [Eddie] Irvine I touched him and I thought I’d destroyed the front wing, but it was OK and I knew it was my day! Damon Hill then blew his engine, and Jean [Alesi] hit the barrier while leading… so now I was!

“It was fantastic for me and for the team because it meant they could sell the team for more. Alain Prost tells me I am the driver who cost him the most!”

Panis admitted that with six laps to go, he was told by his team Ligier that he was going to run out of fuel.

He lifted and coasted to the chequered flag, but had so little fuel left that his car wouldn’t restart after an emotional podium ceremony.

Panis was one of only seven classified finishers that day, although only three racers actually took the chequered flag in one of Formula 1’s strangest races.

READ MORE: Seven unforgettable Monaco GP moments including Senna vs Mansell and Schumacher’s controversy

Who was French Formula 1 racing star Olivier Panis?

Panis was born in Oullins in Lyon in 1966 and started racing go-karts as a child.

However, it was never certain that he was going to reach Formula 1 despite winning the Formula Renault 2.0 Championship in 1989.

He won the International Formula 3000 series in 1993 and earned a seat with Ligier the following year, but was already 27 years old at this point.

Panis secured a podium in his debut F1 season at the German Grand Prix and was developing a very strong reputation in the sport.

As he described after his win in Monaco, he was pivotal in raising money for the team when Alain Prost decided to buy the outfit in 1997 and was one of the legendary French drivers’ first signings.

At one point that season, Panis was only second to Michael Schumacher in the drivers’ championship, but he broke his legs at the Canadian Grand Prix and never reached the same heights again.

Spells at BAR and Toyota followed before going on to make his name in endurance racing.