27/12/2015
NEWS STORY
The law change that will help ensure the Italian Grand Prix remains at Monza has been passed by the country’s government.
As previously reported, the race was under serious threat as the promoters, the Automobile Club of Milan, were struggling to meet the ever increasing hosting fees.
However, the Italian Senate has now officially amended the nation's Stability Law which will allow the Automobile Club d'Italia (ACI) to use its public profits, including those from public vehicle registration, to assist with the required funding.
Previously, the Automobile Club of Milan was only allowed to use the money from ticket sales.
The move should see the ACI add a further $12.5m to the $6.5m the Automobile Club of Milan has on offer.
The legendary circuit's current contract expires next year, but ACI president Sticchi Damiani is confident the move will guarantee the future of the race at the historic track.
"The agreement with Bernie is essentially already been found, the race is saved" he told Gazzetta dello Sport, "we just have to focus on a few details, including the duration of the contract."
Damiani, said he hopes the new contract, which could be for between four to seven years, could be signed by the end of next month.