Nov.28 (GMM) Like Monaco, one other iconic and conventional System 1 venue, Monza, must pay extra to safeguard its medium-term future on the calendar.
When Monaco’s new race deal by means of 2031 was unveiled not too long ago, authoritative sources reported that the settlement features a doubled annual race payment.
It’s believed Monaco agreed to the a lot greater race payment out of concern the celebrated road race may need to 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 prone 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 System 1 Group, Stefano Domenicali, who made this contract extension potential,” stated Italian car membership chief Angelo Sticchi Damiani.
Monza’s current contract with F1 was all the time 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 greater than Monaco’s new deal.
The Italian newspaper added that the preliminary “annual quantity will improve over the subsequent seven years to round 180 million euros” in whole.
“The signature got here after the tip of the modernisation works that the (membership) had undertaken in current months, accomplished in document time,” La Gazzetta continued.
Monza has hosted a spherical of the fashionable System 1 world championship yearly since its inception in 1950, aside from 1980 as a consequence of renovation works.
