Government to wind down Belgian GP backing
Sep.11 - Organisers of the Belgian GP think they are "making progress" to keep their Formula 1 race at the fabled Spa-Francorchamps circuit alive.
Late last year, the sport's owners agreed to a mere one-year extension to the previous race contract - meaning 2025 is currently scheduled to be the final Belgian GP.
It is believed F1 CEO Stefano Domenicali intends to pair some of the European rounds to free up space on the annual calendar and enable events like Spa to enjoy lower costs - because they'll only be hosting a race every two years.
According to the Belgian broadcaster RTBF, the regional Walloon government gives the promoters at Spa between 3 and 8 million euros per year.
But Pierre-Yves Jeholet, the Walloon minister of the economy, insists that "by 2029, public intervention will decrease".
"We must be able to develop an activity without calling on the 'Mr Cash' of the Walloon region," he said.
"For two years, the circuit has been generating profits, efforts are being made, but we must go further and find more sponsorship and advertising, and attract private investors in order to limit public intervention."
Amaury Bertholomee, general manager of the iconic Spa circuit, acknowledges that the financial situation surrounding the Belgian GP going forwards must change.
"We are going to discuss with the Walloon government," he said, "but we have financial results that are on a sustained and positive trajectory. This will allow us to consider this phasing out (of public financing) in the short term."
Minister Jeholet told the Brussels Times this week that he is personally involved in the current negotiations for 2026 and beyond with Formula 1.
"We are making progress," he revealed, "but not at any cost. The negotiations continue."
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Bit sexist "Mr Cash", but lets skip over that, ill give anyone £50 of the finest English pounds, if they can name 3 other sporting events held in Belgium that generate the same t/o and profit for the local economy, betwen 3m and 8m , its peanuts as a subsidy, its Spa , not a bloody go-karte tract
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