Some great news for the Italian Formula 1 fans: Imola will continue to remain on the Formula 1 calendar until at least the 2025 season, after signing a contract extension with the sport’s owners Liberty Media.
The home of the Autodromo Internazionale Enzo e Dino Ferrari returned to the Formula 1 schedule two years ago, when the sport was looking for options to find replacements and manage to put on a full calendar during the Coronavirus pandemic.
The circuit, which hosted the Italian Grand Prix in 1980 and the San Marino GP from 1981 to 2006, was of course a popular hit with fans and drivers for its old school feeling.
After keeping its place Having retained its spot on the schedule since then under the name of the Emilia Romagna Grand Prix, the circuit has now officially agreed a new three-year deal extension which will ensure it stays on the calendar until at least 2025.
It is understood that the new deal is worth around $25 million per season, but the fee can be adjusted downwards to not exceed $10m if race organisers are forced to hold the event behind closed doors because of coronavirus.
Angelo Sticchi Damiani, president of the Automobile Club of Italy, said: “I am very satisfied with the agreement reached with Liberty Media. It was a complicated contract, because it was made by us, which is a public body, with a private body like Formula 1. But the important thing is that we managed to confirm the GP in Imola until 2025.”
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Formula 1 CEO Stefano Domenicali was happy to share the news of Imola’s extended deal for the following years:
“I am delighted that we will be continuing our excellent partnership with Imola for the Emilia Romagna Grand Prix until 2025,” he explained – “The circuit is iconic and has been part of the history of our sport and they have done an incredible job of hosting two races during the pandemic. It is a proud moment for our Italian fans to host two races and for all our fans around the world to see this fantastic circuit on the calendar for the future.”
Funding for the deal has been helped by the national government and local Emilia Romagna region, that has secured naming rights for the grand prix itself.
Angelo Sticchi Damiani added: “We have two Formula 1 races in Italy for the next few years. It was a great team effort. We have managed to create a great group and I must say thanks to the Government and the Prime Minister, Mario Draghi, to the Ministries of Foreign Affairs, Finance and Infrastructure and to the Emilia-Romagna Region.”
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