Jan.31 (GMM) Promoters of the fabled Belgian GP at Spa-Francorchamps could must pay much more to increase its Method 1 race deal past 2025.
Late final yr, the speedy darkish cloud of uncertainty over the race’s future was lifted when Spa Grand Prix, the promoter, managed to signal a mere one-year extension to its expiring deal.
The obvious motive for the unusually brief length, in an period the place decade-long and even longer contracts are favoured by Liberty Media, is that the present promoter couldn’t afford to pay extra.
Barcelona is at the moment pushing for a brand new deal, having already misplaced the ‘Spanish Grand Prix’ official title for 2026 and past to greater bidders in Madrid.
Marca sports activities newspaper believes the Barcelona organisers could be proud of the ‘European GP’ title, however a deal would contain a a lot greater annual race price payable to F1.
Spanish sources have reported that Barcelona at the moment pays simply EUR 26m per race – whereas the brand new decade-long Madrid deal is for greater than double that quantity yearly.
And now, La Libre – a Belgian newspaper – is reporting that Spa Grand Prix additionally must considerably up its supply to F1 for a brand new Belgian GP deal past 2025.
That’s as a result of Spa at the moment pays about the identical quantity because the similarly-endangered Barcelona occasion.
Based mostly on La Libre’s report, Belga information company explains: “The price of organising the grand prix at Spa-Francorchamps is rising yr by yr.
“The prices will rise by 5 million euros in two years – from 23.5 million euros final yr to 25 million in 2024 and 28 million in 2025.”
Paying extra shall be tough for Spa Grand Prix to handle, on condition that it’s wholly owned by the regional Walloon authorities.
“Spa Grand Prix organises the race however has by no means been in a position to stability its finances,” the report stated. “And the area has performed all it may to cut back the deficit.
“In response to Walloon economic system minister Willy Borsus, the deficit in 2023 was 3.2m euros, in comparison with 5.6m in 2022 and seven.3m in 2021.”
