Could Formula 1 Lose Monza as a Venue?

Monza is not the only Formula 1 venue that is worried about the cost of hosting an annual grand prix, according to Italian GP boss Angelo Sticchi Damiani.

The Italian automobile club (ACI) president this week confirmed that Monza is among the 16 F1 circuits protesting the race fees charged by Liberty Media.

“The cost you pay to Liberty Media each year is on average very high,” he is quoted by Corriere dello Sport.

“It is really difficult to imagine, in our case as the grand prix of Monza, that in 2018 it had a cost of $24 million, which is a huge amount,” Sticchi Damiani added.

He said the last contract agreed was a “sacrifice” because Monza “wanted to find a solution” to remain on the calendar.

“But today it is not possible to have that reasoning, and the problem concerns not only us but all of the grands prix.

“Liberty Media’s demands are too close to what went before and unfortunately on the rise, but that is not possible,” Stocchi Damiani insisted.

“The ACI will do its part, as we are perfectly aware of the importance of the role it plays. But we must have a chance of economic sustainability,” he added.

“We have to convince Liberty Media that Monza has an irreplaceable value to the world championship and we want that to be recognised.”

Sticchi Damiani hinted strongly that Monza is prepared to fail to reach an agreement with Liberty Media.

“This is a negotiation made in a moment of greater serenity than when we signed the agreement with Bernie Ecclestone,” he said.

Already, Malaysia has dropped off the map and Germany is closely following along with Silverstone. But given the financial issues faced by the circuits, the idea of Formula 1 losing the ‘Temple of Speed’ is not at all far-fetched.