Italy passes law to keep GP at Monza

Monza_aerial_photo

It was announced yesterday that the Italian Senate has approved an amendment to the country’s Stability Law that will help secure the future of the Formula 1 race at Monza.

As reported by Gazzetta dello Sport, the newly-passed amendment will allow the Automobile Club d’Italia to use its public profits to fund the race.

Previously only the Automobile Club of Milan, headed by former Ferrari F1 driver Ivan Capelli, was allowed to fund the race, using the revenue generated from ticket sales.

However, the law changes will now see ACI add approximately 12.5 million dollars to ACM’s 6.5 million investment.

The decision of the Senate has led ACI president Sticchi Damiani to declare the Monza race “saved”, going on to suggest that the final agreement with Bernie Ecclestone is to be signed in January.

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