Following an amendment to Italian Stability Law, the future of the Italian Grand Prix at the Autodromo Nazionale Monza looks more secure, with additional funds being made available to safeguard the legendary event.
Previously the Automobile Club of Milan (ACM) was only allowed to fund the race using revenue generated from ticket sales, but the amendment will now allow the Automobile Club d’Italia (ACI) to use public profits as well.
The ACI will now be able to use an approximate 12.5 million dollars on top of ACM’s 6.5 million investment.
The final agreement to safeguard the race, which is scheduled for 4 September, is set to be signed with F1 Supremo Bernie Ecclestone early in the new year, with ACI president Sticchi Damiani declaring the race ‘saved’.
The future of the race had been under threat, with Ecclestone threatening to pull the plug on the venue famed for its vibrant Tifosi, the fans of Ferrari.