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LONDON, England - The future of the historic Grand Prix at Italy's Monza circuit has taken a blow this week, according to reports in the Italian press.
F1 supremo Bernie Ecclestone had warned earlier in 2014 that the existing Italian GP contract, running only until 2016, was "a commercial disaster".
NEW LAW
Now more bad news for Monza has emerged from the government that La Stampa and other Italian newspapers have revealed. It is about the so-called 'legge di stabilita', or stability law, in which a decision of the senate has apparently made the collapse of the Italian Formula 1 GP beyond 2016 more likely.
Reports said an amendment to the law allowing tax exemption involving the equivalent of about R283-million has been cancelled. Politician Fabrizio Sala has been quoted as saying: "The stability law penalises Monza and its Autodrome, putting at risk the future of the Italian Formula 1 GP."
However former F1 driver Ivan Capelli, who in 2014 became a director of the Automobile Club of Milan, vowed to fight for the Italian GP.
He challenged: "Our commitment to find the resources needed is clear."
F1 supremo Bernie Ecclestone had warned earlier in 2014 that the existing Italian GP contract, running only until 2016, was "a commercial disaster".
NEW LAW
Now more bad news for Monza has emerged from the government that La Stampa and other Italian newspapers have revealed. It is about the so-called 'legge di stabilita', or stability law, in which a decision of the senate has apparently made the collapse of the Italian Formula 1 GP beyond 2016 more likely.
Reports said an amendment to the law allowing tax exemption involving the equivalent of about R283-million has been cancelled. Politician Fabrizio Sala has been quoted as saying: "The stability law penalises Monza and its Autodrome, putting at risk the future of the Italian Formula 1 GP."
However former F1 driver Ivan Capelli, who in 2014 became a director of the Automobile Club of Milan, vowed to fight for the Italian GP.
He challenged: "Our commitment to find the resources needed is clear."