Monza Takes Step Toward Securing Future Of Italian Grand Prix

Monza "has reportedly taken a major step towards securing the future of its historic Italian grand prix," according to GMM. Local media reports said that the Senate has belatedly agreed to make €20M ($22M) in funding for the F1 race and the modernization of the Monza circuit exempt from tax. Former F1 driver Ivan Capelli, now president of the Milan automobile club, said, "It is an important signal that indicates the government's willingness to ensure the continuation of the Italian grand prix." And Andrea Dell'Orto, boss of the race promoter Sias, said he will now meet with local mayors in Milan and Monza and thereafter "continue negotiations for the renewal of the contract with [F1 CEO] Bernie Ecclestone." Lombardy President Roberto Maroni said, "With this tax free investment, we can now close the deal with Ecclestone by early September" (GMM, 7/29).