Feb.25 (GMM/Inautonews.com) A cloud continues to hang over the future of the iconic Italian grand prix.

Last year, Bernie Ecclestone warned that because the current contractual terms are “a disaster”, once the deal expires after the 2016 race, formula one will say “bye-bye” to Monza.

Worsening the situation, it then emerged that the new, so-called ‘stability law’ passing through parliament could cost Monza up to about EUR 20 million in tax exemptions.

Francesco Ferri, the new director of the Monza race organiser Sias, said in the Italian press at the time: “2017 will arrive anyway, with or without Bernie Ecclestone”.

But Angelo Sticchi Damiani, the president of the Automobile Club d’Italia (ACI), insisted this week that every effort is being made to save the grand prix.

“Monza is the oldest circuit in formula one, a record that we don’t want to lose,” he said during an awards ceremony on Tuesday.

“The matter is complex and difficult. There is no room for mistakes.

“We have to work together to see how to reach our target, which is Monza remaining the venue of the Italian GP from 2017 to 2020,” added Damiani, according to the Italian news source AGI.