F1: Monza set to secure Italian GP future

The future of Formula 1's Italian Grand Prix at Monza appears to have been secured, according to Automobile Club of Milan president Ivan Capelli.

Monza's place on the calendar beyond next season was up in the air as negotiations over an extension failed to find a resolution. It is understood there was a difference in opinion between F1 chief executive Bernie Ecclestone and the organizers regarding the size of the race hosting fee. But ex-F1 driver Capelli says a change to the law that allows the Automobile Club of Italy to use its finances to fund the race means a deal can be struck.

When asked if the future of the Italian GP at Monza was now safe, Capelli said: "Yes. The Italian government confirmed the amendment in the law that Automobile Club of Italy can use the money from all the companies that are connected to it to pay the fee for the Italian Grand Prix organized in Monza.

"There will be an agreement between the Automobile Club of Italy and the Automobile Club of Milan, which owns Monza through the company SIAS, that we will provide the funding. The AC of Italy president Angelo Sticchi Damiani achieved this through the connection he has in Rome, especially because the political side understood the importance of the grand prix for the region and for the whole country."

Capelli said the length of the new contract is still under discussion, but he would like to reach the track's centenary in 2022.

"At the moment, there is a discussion on that as to which is the best option so I cannot say for how many years," he said. "I would like to reach 2022, because it is the centenary of the circuit."

The Italian added he expected talks with Ecclestone would take place "in the next month."

Originally on Autosport.com