The Italian Grand Prix seems to have been given a lifeline after months of speculation that the famed race would be dropped from the Formula 1 calendar.
The Monza circuit’s contract to host the Italian Grand Prix runs out after the 2016 season and for months, F1 supremo Bernie Ecclestone has been trying to finalise an extended deal with the circuit and local authorities.
In previous years, finding financing for the race has proved difficult partly because the Automobile Club of Italy (ACI) was unable to provide any finances for the race due to government limitations.
Now that is changing following an amendment of local laws which allow the ACI to fund the hosting fee for the Italian F1 race.
At this stage, the change in law has yet to be passed. If it does, it is expected to open up the possibility of the Monza circuit retaining the Italian GP for a further seven years.
While speaking with an Italian publication, president of the ACI, Sticchi Damiani, said: “This statute prevented us from intervening to save Monza. We had problems distinguishing income from sport and other activities. This change has been decisive and so the most important work is now done.”
Story references: Motorsport.com
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