Ecclestone Seeks New Promoter to Secure Italian Grand Prix
Bernie Ecclestone has signalled his willingness to work with a new Italian Grand Prix promoter as Monza faces a financial impasse over its Formula One contract beyond 2016.
Bernie Ecclestone has stated he is open to a new promoter for the Italian Grand Prix if it helps keep the race on the Formula One calendar. The move comes as Monza’s current organisers struggle to meet the financial terms demanded for a contract extension beyond 2016.
Talks between Ecclestone and representatives of the Automobile Club d’Italia (ACI), including Angelo Sticchi Damiani and Ivan Capelli of promoter Sias, took place during the Monaco Grand Prix weekend. Despite these discussions, Ecclestone described the situation as “at a standstill”, with no agreement reached on the fee required to secure Monza’s place on the 2017 calendar.
Monza’s financial challenge
The sticking point is the reported €20 million annual fee Ecclestone is seeking for the race. According to Italian officials, this figure is too high for the traditional venue to sustain. Monza, which has hosted the Italian Grand Prix almost every year since 1950, is under pressure to match the commercial terms seen at newer venues, despite its historical significance.
Ecclestone has pointed to the Red Bull-promoted Austrian Grand Prix as a model for how new promotional arrangements could work. He has rejected claims that he is disregarding European racing heritage in favour of higher-paying new markets, arguing that European circuits previously accepted the need to pay for the privilege of hosting Formula One.
What a new promoter could mean for the Italian GP
If a new promoter steps forward and accepts the financial terms, Monza’s future on the calendar could be secured. Ecclestone has said he is open to “anyone who wants to come forward”, but made clear that the fee will not be reduced. This leaves the door open to private or corporate interests willing to underwrite the event, but also raises the possibility that Monza could lose its place if no deal is reached.
For Italian motorsport fans and Monza’s workforce, the uncertainty puts the race’s long-term future in doubt. The circuit’s historical status has not guaranteed its survival under Formula One’s current commercial model. A change in promoter could bring new investment but may also alter the event’s character, depending on who takes over.
