MILAN (AP) The Italian Automobile Club says it has signed a deal with Formula One boss Bernie Ecclestone to keep the Italian Grand Prix in Monza for the next three years.
Ecclestone and ACI president Angelo Sticchi Damiani had already agreed verbally to terms in September.
Sticchi Damiani says “with a lot of work despite a ton of difficulty, we’ve formally signed the contract for Monza.”
While details were not announced, the deal is reportedly worth 68 million euros ($72 million), slightly less than the 25 million euros ($26.5 million) per year Ecclestone requested.
No circuit has hosted more F1 racing than Monza, which was on the inaugural 1950 calendar and dropped off only in 1980 when Imola hosted the Italian GP.
Next year’s Italian GP is scheduled for Sept. 3.
New Montreal Mayor Valérie Plante has cancelled the FIA Formula E Championship’s planned season four finale, which was set for two races on July 28 and 29, 2018, citing what was termed a “financial fiasco.”
Plante was elected to replace Denis Coderre in the role, and didn’t follow Coderre’s support of the event.
She announced the news today citing financial and logistical challenges she didn’t feel the city could overcome.
Via a report in the CBC, Plante’s administration estimated a potential cost of up to $35 million would needed to be paid by the city’s taxpayers for the event’s second running. Additionally, a nonprofit organization reportedly owes creditors some $9.5 million.
Plante revealed details today in a series of messages posted on Twitter, which you can see in order below.
A Formula E spokesperson supplied a statement of the surprise news to e-racing365.com:
Formula E’s fourth season underwent one calendar change with a return to Punta Del Este, Uruguay replacing a cancelled race in Sao Paulo, Brazil. Whether a replacement can be sourced for this race weekend will now remain to be seen.