Nov.28 (GMM) Like Monaco, one other iconic and conventional Method 1 venue, Monza, should pay extra to safeguard its medium-term future on the calendar.
When Monaco’s new race deal by means of 2031 was unveiled lately, authoritative sources reported that the settlement features a doubled annual race payment.
It’s believed Monaco agreed to the a lot increased race payment out of concern the distinguished avenue race might must be a part of the anticipated race rotation scheme that’s tipped to shortly be unveiled by F1 proprietor Liberty Media.
And now, with venues like Barcelona, Zandvoort and Spa-Francorchamps nonetheless susceptible to the race-date rotation scheme, F1 has introduced a brand new Monaco-like annual race contract by means of 2031 with Italian GP host Monza.
“We should thank the precious and decisive contribution of the present president and CEO of Method 1 Group, Stefano Domenicali, who made this contract extension attainable,” mentioned Italian car membership chief Angelo Sticchi Damiani.
Monza’s current contract with F1 was at all times set to run by means of 2025, so the brand new deal is for six further grands prix by means of 2031.
La Gazzetta dello Sport claims the deal is “value roughly 180 million euros”, or 30 million on common per race – reportedly somewhat increased than Monaco’s new deal.
The Italian newspaper added that the preliminary “annual quantity will enhance over the subsequent seven years to round 180 million euros” in whole.
“The signature got here after the top of the modernisation works that the (membership) had undertaken in latest months, accomplished in file time,” La Gazzetta continued.
Monza has hosted a spherical of the fashionable Method 1 world championship yearly since its inception in 1950, apart from 1980 because of renovation works.
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