bigbadbrother
12-23-2014, 09:33 PM
GMM newswire
The future of the Italian Grand Prix at Monza has taken a blow this week, according to reports in the Italian press.
F1 supremo Bernie Ecclestone warned earlier this year that the existing Italian Grand Prix contract, running only until 2016, is a commercial "disaster."
And now, more bad news for Monza has emerged from the government, Italian newspapers including La Stampa reveal.
It is about the so-called 'legge di stabilita', or stability law, in which a decision of the senate has made the collapse of the Italian Grand Prix beyond 2016 reportedly more likely.
Reports said an amendment of the law allowing a tax exemption to the tune of about $24M has been ruled out.
Politician Fabrizio Sala is quoted as saying: "The stability law penalizes Monza and its Autodrome, putting at risk the future of the Formula One Grand Prix."
But former F1 driver Ivan Capelli, who this year became a director of the automobile club of Milan, vowed to fight for the Italian Grand Prix.
"Our commitment to find the resources needed is clear," he insisted.
The future of the Italian Grand Prix at Monza has taken a blow this week, according to reports in the Italian press.
F1 supremo Bernie Ecclestone warned earlier this year that the existing Italian Grand Prix contract, running only until 2016, is a commercial "disaster."
And now, more bad news for Monza has emerged from the government, Italian newspapers including La Stampa reveal.
It is about the so-called 'legge di stabilita', or stability law, in which a decision of the senate has made the collapse of the Italian Grand Prix beyond 2016 reportedly more likely.
Reports said an amendment of the law allowing a tax exemption to the tune of about $24M has been ruled out.
Politician Fabrizio Sala is quoted as saying: "The stability law penalizes Monza and its Autodrome, putting at risk the future of the Formula One Grand Prix."
But former F1 driver Ivan Capelli, who this year became a director of the automobile club of Milan, vowed to fight for the Italian Grand Prix.
"Our commitment to find the resources needed is clear," he insisted.