Monza on the verge of being saved by the Italian Senate
Monza circuit has been under threat for almost a year to remain on the Formula 1 season calendar due to its financial situation. However, the situation seems to be defusing thanks to the Italian Parliament, particularly the Senate.
As the current contract involving the Italian Grand Prix at Monza expires at the end of next year, something is brewing in Lombardy. Indeed, the latest news concerning the fate of the Italian Grand Prix comes from the words of the president of the Lombardy region, Roberto Maroni, who has anticipated a real possibility of Lombardy’s entry into the Monza park with a tax-exempt investment. The latter is estimated at 20 million euros.
The Senate recently discussed and then approved an amendment that calls for a fiscal neutralization of investments made by the region. A windfall that could thus meet the financial demands of Bernie Ecclestone. This kind of fiscal arrangement is not an exception in the world as France has decided not to tax the revenues generated by UEFA during the upcoming Euro football championship that will be held in the country next year.
After the last regional council meeting, Maroni commented: “It’s good news because these resources will allow us to close the deal and therefore save the Monza Grand Prix. This needs to be done before the next event [between September 4 and 6]. We can do it.” He, questioned by Radio Monte Carlo, estimates the chances of saving it at “90%.”
Monza has hosted all the Italian Grand Prix events so far, except for the 1980 edition which was held in Imola.
