Monza still in talks with Ecclestone over Italian GP fee

Monza chiefs are still negotiating with F1 commercial rights boss Bernie Ecclestone about the Italian F1 Grand Prix hosting fee, per multiple reports.

Monza’s contract with FOM runs until 2016 and the iconic venue had been facing an uncertain future until a new legislation has allowed increased funding for the race. As a result, Angelo Sticchi Damiani, the head of the Italian Automobile Club (ACI), recently claimed that Monza was on the verge of signing a new seven-year contract with Ecclestone.

However, Italian publication Autosprint reports that the F1 supremo is demanding a $28m (£20m) annual fee – similar to what Austria is paying – when the organisers are offering $20m (£14m). Damiani insists the new deal is “very close to being finalised, though we still have to agree on some details”.

“Ecclestone has asked for $28 million, a figure much higher than what we are paying but also much lower than what other race tracks are giving,” the ACI chief is also quoted as saying by Italpress.

“Baku, for example, is set to pay around $150 million [£105m] over three years.”

Monza has been a quasi-permanent fixture on the F1 calendar, hosting every Italian Grand Prix – bar one in 1980 – since the series was launched in 1950.

Feature: Slamming on the brakes - F1's biggest braking points

Key dates for the 2016 F1 season

Keep up to date with all the F1 news via Facebook and Twitter

Julien Billiotte

Recent Posts

Sad Colapinto laments two crashes in one day in Sao Paulo

Williams suffered a bruising time on Sunday in Sao Paulo, with Alex Albon unable to…

1 hour ago

McLaren: No regrets over timing of Norris pit stop in Sao Paulo GP

McLaren team principal Andrea Stella has insisted that the squad has no regrets about their…

3 hours ago

Williams' Boutsen hoists the mainsail in Adelaide

On this day in 1989, Williams' Thierry Boutsen secured his second F1 win when he…

4 hours ago

Horner: Max 'answered critics' with epic Sao Paulo GP drive

Red Bull team principal Christian Horner hailed Max Verstappen’s sensational Sao Paulo Grand Prix victory…

5 hours ago

Sainz left puzzled by double crash drama in rainy São Paulo

Carlos Sainz was left scratching his head after a disastrous Sunday at the Sao Paulo…

6 hours ago

Alonso pushed through agonizing pain to complete Sao Paulo GP

Fernando Alonso braved both physical agony and mechanical challenges in the Sao Paulo Grand Prix,…

7 hours ago