Tag Archives: new deal

Monza agrees new F1 deal

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It was announced this morning that Monza will continue to host the Italian Grand Prix until at least 2019, following the signing of a new contract with Formula 1 bosses.

The negotiations for a new deal have lasted for more than a year as organisers struggled to raise the necessary funds, whilst the threat of losing the race to Imola – which had a contract to takeover hosting the race should Monza’s deal fall through – added pressure to conclude a new contract as quickly as possible.

A provisional ‘handshake’ deal was agreed back in August, but only now has it been signed off by both parties, with an announcement on the circuit’s Twitter confirming the news as follows:-

‘The renewal of the contract for the [Italian Grand Prix] at Monza has been signed.’

In a statement to the media, Italian motorsport federation (ACI) president Angelo Sticchi Damiani added the following:-

‘We have avoided the possibility that, after 70 years, Italy could lose one of the most prestigious, historic and fascinating automobile races in the world.

‘Now we move forward together, with the goal of making the Grand Prix in Monza, in the coming years, an even more important event, able to fascinate and attract more and more fans across the world.’

Canadian GP confirmed next season

Motor Racing Circuits

Earlier this week, the Mayor of Montreal Denis Coderre has confirmed via social media that a deal for the 2017 Canadian Grand Prix has been finalised.

A deal with commercial rights holder Bernie Ecclestone was the missing piece in terms of confirming the running of the event, but that has now been confirmed, and the race will take place on Sunday 11 June.

“There will be Grand Prix of Canada in 2017” tweeted Coderre, ending talks of improvement work to the Circuit de Gille Villeneuve that some team bosses feel is necessary.

In a statement to the media earlier this week, Francois Dumontier, president and CEO of Octane Racing Group, who promote the event, said the following about the new deal:-

‘Montreal and Circuit Gilles Villeneuve produce one of the most exciting grands prix of the season. In 2017, everyone will have even more good reasons to be there.’

The 2017 running of the race will mark 50 years since the first Canadian Grand Prix in 1967, timely considering the addition to the grid of Canadian Lance Stroll next season, who will partner Valtteri Bottas at Williams.

The Canadian Grand Prix had been listed as a TBC event on the provisional calendar, along with races in Brazil and Germany, but Canada has now been confirmed with Ecclestone, with the other two races still awaiting confirmation.

Tickets to the event will go on sale on Thursday 24 November at 14:00 GMT.

Monza signs three year deal to host the Italian GP

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During the FP2 session for the Italian GP this afternoon, F1 boss Bernie Ecclestone has confirmed a three-year extension of Monza’s deal to host the Italian Grand Prix and that the historic race remains on the calendar until at least 2019.

The future of the race had been in doubt after drawn-out negotiations between Ecclestone and the president of Italy’s motorsport federation Angelo Sticchi Damiani this year. It is the first time the Automobile Club d’Italia had taken charge of negotiations with Ecclestone and they were made to sweat as the F1 CEO threatened to move the race to Imola or drop it completely.

However, the ACI stood firm and insisted that the race would be held at Monza or no other circuit at all. This then lead to the three-year extension that was announced on Friday.

Speaking during a press conference on Friday afternoon, Ecclestone said the contract was in the process of being drawn up but the deal had been done. Ecclestone said the following:-

‘We’re getting all the small details that are important in a contract together and we’ll sign it. So there’s no problem with having a race here at all. It will be here. The contract is only going to be for three years but hopefully we’re here for another hundred years.’

The Italian Grand Prix has been on the calendar since 1950 and has taken place at Monza every year with exception of the 1980 event, which was held at Imola.

Monza close to agreeing a new seven year deal

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It was announced this morning that Monza is closing in on a new deal to secure another seven years of hosting Italian Grand Prix.

The historic circuit’s future has been in doubt for some time after failing to agree new terms for an extension beyond 2016 with F1 boss Bernie Ecclestone. There have been several alternatives for the Italian race were proposed for future; one of which included an alternate deal with former San Marino Grand Prix host Imola.

However, a recent amendment to Italy’s Stability Law now allows the Automobile Club of Italy (ACI) to help fund the event in the future which has now made a new deal more affordable.

In an interview with the media today, The head of the ACI Angelo Sticchi Damiani says talks for a new deal are now progressing well and is confident a deal will be completed soon to keep Monza on the calendar. Damiani stated the following:-

‘The Autodromo di Monza has had difficult times, but the worst is over and now we are close to signing with Ecclestone to have Formula One in Brianza for another seven years. We’re going to win a battle that led to the ACI making tremendous sacrifices.’

The Monza circuit which is nicknamed as the Temple of Speed by pundits, fans and the paddock, is the fastest circuit on the F1 calendar and featured in every F1 world championship season except 1980 and it is great to hear that a new deal could be reached in order to maintain the GP there and keep prestige in the ever expanding F1 calendar.

Melbourne extends its contract to host the Australian GP until 2023

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It has been announced today that the Australian Grand Prix will stay in Melbourne until at least 2023.

An agreement between Formula One Management and the Victorian government was already in place through to the 2020 season. However,  the Albert Park circuit’s F1 tenure has now been extended further.

The premier of Victoria, Daniel Andrews announced the news on his official Facebook page through a video message as follows:-

‘The Australian Formula 1 Grand Prix is here to stay exactly where it belongs, in the great city of Melbourne.’

The Australian GP moved to Melbourne in 1996 after 11 grands prix in Adelaide and Albert Park is set to host the 2016 season opener on 3rd April.

Monza deal expected ‘by early September’

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It has been announced today that the future of the Italian Grand Prix could be secured by “early September” thanks to a tax free investment for the Monza circuit.

The Italian Grand Prix’s place on the Formula 1 calendar had reportedly been on the line as circuit owners needed to find 22 to 24 million Euros to secure a new deal with FOM.

That money has now come thanked to the Italian government and the governor of Lombardy, Roberto Maroni, is hoping to have a new F1 deal in the bag within two months.

In an interview with Italian Newspaper Gazzetta dello Sport today the following about securing a new deal to host the GP in Monza as follows:-

‘We can do it by early September. With this tax free investment we can close the deal with Ecclestone.

‘The day after tomorrow I will meet Andrea Dall’Orto, the president of Sias, to close the deal with the mayors of Milan and Monza. The grand prix has to stay in Monza, because Monza is Monza.’

Barcelona renews F1 deal until 2019

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It was announced yesterday that Formula 1 will return to the Circuit de Barcelona-Catalunya until 2019 after organisers agreed a contract extension with Bernie Ecclestone.

Formula 1 first raced at the Spanish track back in 1991 and this year marks the 25th edition of the grand prix.

The current deal was set to expire after this weekend’s race but the relationship that is now set to continue for a further three years.

in a statement to the media yesterday, circuit President Vicenç Aguilera said the following about the new deal:-

‘We are extremely proud to announce this renewal in such a special year, marking the 25th anniversary of Formula 1 Grand Prix being hosted uninterruptedly at the Circuit de Barcelona-Catalunya.

‘We thus extend this fruitful relationship with Formula 1 and we look forward to the next 25 years.’

Overall, it is great news for the fans and also everyone involved with the circuit that a new deal has been agreed firstly and also what a way to celebrate 25 years of running the event as well. It is clear that they have done enough to extend their deal with FOM for the next three years and now that has been sorted out; they can focus on giving us a great race on Sunday,