The Italian Grand Prix at Monza will remain a feature of the Formula 1 calendar following a change in Italy’s law, which means funding to pay the hosting fee isn’t such an issue.
There had been a threat the race could drop off the calendar as a dispute between the organisers and Bernie Ecclestone raged on for months, with several failed negotiations over how much it should pay.
However ex-F1 driver and Automobile Club of Milan president Ivan Capelli says a change to the law has been passed, allowing the Automobile Club of Italy to use its finances to fund the race.
“The Italian government confirmed the amendment in the law that Automobile Club of Italy can use the money from all the companies that are connected to it to pay the fee for the Italian Grand Prix organised in Monza,” he told Autosport.
“There will be an agreement between the Automobile Club of Italy and the Automobile Club of Milan, which owns Monza through the company SIAS, that we will provide the funding.”
He added that the government was willing to change the law because it recognised the importance of the race to the region and country.
Whilst Capelli couldn’t confirm the length of any new deal, which is expected to be concluded in January with Ecclestone, he is hopeful it will see F1 at Monza for at least another seven years.
“I would like to reach 2022, because it is the centenary of the circuit,” he added.
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