Belgium hoping to retain GP with new deal


Red Bull, Getty Images
3 July 2012 by Ryan Wood | M
          

The Belgian Grand Prix at the fan favourite of Spa-Francorchamps could be set to secure an extended contract which would see the event remain on the calendar every year until at least 2016.

The race in the Ardennes Forest has been under threat for several years now with spiralling debts and dwindling spectators, but an annual rotation with the proposed French GP, which would have returned to the calendar next year, looked to have secured the races future.

However the change of government in France has led to the scrapping of such plans, with the Spa organisers confirming any deals to alternate the event have now been shelved.

This may sound like bad news at first, but it's reported that a revised deal has been submitted to Bernie Ecclestone with several changes, one being a reduction in its hosting fee by £1.3 million ($2m, €1.6m).

If the offer is accepted by Ecclestone, the organisers are hopeful that the deal will allow them to continue to host the event every year for the next four years, whilst debt restructuring takes place behind the scenes to secure the long-term future of the circuit.

The track's current contract expires at the end of the 2012 season.

LATEST FORMULA 1 NEWS

MERCEDES

Hamilton vows not to give up until it's impossible

RED BULL

Monza demands incredible focus - Ricciardo

F1 NEWS

Honda confident they will match Mercedes engine

ITALIAN GP

FIA defends changes to Parabolica run-off

F1 NEWS

Ecclestone's full-time return 'good news' - Wolff

VIDEO

Video: Verstappen has minor shunt during F1 demo