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F1 in talks to lift Monaco’s annual race payment

Monaco, arguably the most unique and famous of all Formula 1 races, is the latest European event under pressure to remain on the annual calendar. With Liberty Media receiving big-money offers from potential non-European venues, and yet reluctant to expand the calendar beyond 24 races, many existing events – like Monza, Imola, Barcelona and others

F1 in talks to lift Monaco’s annual race payment

F1 in talks to raise Monaco's (…)

Monaco, arguably probably the most distinctive and well-known of all Formulation 1 races, is the newest European occasion underneath strain to stay on the annual calendar.

With Liberty Media receiving big-money affords from potential non-European venues, and but reluctant to increase the calendar past 24 races, many current occasions – like Monza, Imola, Barcelona and others – are liable to shedding their F1 standing.

Even Monaco will not be sacrosanct, in response to Bloomberg.

“Liberty Media … is searching for further funds from the principality of Monaco as a part of superior talks for a brand new contract to increase the historic automotive race past 2025,” the monetary information company studies.

As soon as upon a time, Monaco didn’t even pay an annual race payment, though Bloomberg claims the occasion is now charged $20 million a 12 months – the bottom of all present promoters.

Monaco’s present contract runs solely till subsequent 12 months, and underneath the brand new phrases, the occasion misplaced the proper to organise its personal TV protection and different perks, like the truth that the primary day of follow was on a Thursday.

Bloomberg continued: “A spokesperson for Formulation 1 declined to touch upon the present talks, however stated the corporate will not be contemplating pulling out of Monaco.”

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