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Belgium hoping to retain GP with new deal
Tuesday 03rd July 2012, 00:43 by Ryan Wood
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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.