Formula 1 has announced that Spa-Francorchamps will continue to host the Belgian Grand Prix until 2025, the event thus receiving a one-year extension of its contract with FOM.
As appreciated as Spa has always been by the F1 community and by the drivers in particular, the event has been walking a tightrope in the past few years, with short-term deals keeping the race on the sport’s schedule.
Grand Prix racing’s growing calendar and competition from venues willing to pay a higher fee have often put a cloud of uncertainty over Spa.
But for now, F1 has opted to keep its oldest venue along with Silverstone and Monza on its agenda.
“Spa is synonymous with Formula 1 having been one of the circuits in our first ever season and is much-loved by fans and drivers alike, so I am delighted to extend our relationship with them until 2025,” said Formula 1 CEO Stefano Domenicali.
“The promoter has taken big strides in the last few years to improve the fan experience and infrastructure, and work is ongoing between all the stakeholders with a clear focus on delivering safe and exciting racing.
“I would like to thank the promoter and the Government of Wallonia for their continued support.”
Indeed, the Government of Wallonia contributes a subsidy to Spa Grand Prix, the promoter of the event, as the race – which enjoyed a €40 million turnover this year – generates considerable revenue for the region.
“We are proud and excited to announce that the Formula 1 Grand Prix will take place in Wallonia in 2025,” said Wallonia’s Vice President Willy Borsus.
“Our region will once again rise to the top of the international scene, thanks to its high-quality events and legendary sports infrastructure.
“Beyond the prestige, I would like to emphasize the considerable economic impact that this event brings to Wallonia and Belgium. According to a study carried out in 2021, the Grand Prix generates positive spin-offs of €41.8 million for our region, after deduction of public funding, which is steadily decreasing.
“These figures constitute a solid indication of the financial impact, and the positive outlook means that we can expect even more positive results this year. The Formula 1 Grand Prix thus embodies both an emblematic moment in motor sport and a powerful engine of economic growth for our region.”
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