Formula 1 News: Monza hits F1 deadline, confident of 2026 contract (3rd Update)

(GMM) Italian GP officials are confident they are heading down the road towards a new Formula 1 race deal.

La Gazzetta dello Sport reports that Monza has successfully met its deadline for required upgrade works in the nick of time, with the 2024 Italian GP scheduled for late August.

The fabled circuit’s surface has been completely re-asphalted, the pitlane has been overhauled and infrastructure work has been modernized.

“The works are part of a larger modernization project that the Autodromo will have to undergo to ensure it remains on the Formula 1 calendar,” the renowned Italian newspaper said.

Monza’s current contract with Formula 1 runs out after the 2025 edition. “The road to renewal,” La Gazzetta dello Sport warned, “is not over yet.”

However, Geronimo La Russa, president of the Automobile club of Milan, speaking at Monza on Monday, is confident.

“The Monza GP is an icon of Italy in the world,” he said. “I am certain that it will continue to be a protagonist of the world championship even after 2025.”

Italian automobile club (Aci) president Angelo Sticchi Damiani agrees: “We want this race track to be modern and not just for one week a year.”

He noted that the contract of the other Italian venue on the F1 calendar, Imola, is also set to expire next year. “Are two grands prix in Italy still possible after 2026?” Damiani asked rhetorically.

“The dream (of two Italian races) has already come true, let’s hope now that it continues.”

(GMM) Monza is in a race against time to prepare the historic circuit for a crucial FIA inspection.

As part of its push for a new Formula 1 race contract, the circuit agreed to an ambitious renovation plan – part of which must be ready for the Italian GP at the end of August.

However, delays have resulted in a lot of work that still has to be completed over the next six weeks – with a crucial deadline looming even sooner than that.

The track still needs to be completely resurfaced, pit buildings still need to be completed, and two tunnels running under the main straight are as well yet to be finished.

“We set a deadline of 1 July and the visit by the FIA delegation went very well,” Italian automobile club boss Angelo Sticchi Damiani said. “The work was highly appreciated and there were some small suggestions on details.

“The next step will be the inspection on 1 August,” he added.

The 2025 edition is the last race in Monza’s existing F1 contract.

“We have a very narrow window to renew our contract with F1,” Damiani admits. “In order to even get the deal done, we need to have certainty that some of the work will be completed by 2025 and the remaining work by 2026.

“We are a little nervous about that,” he added. “We still have a lot of work to do to get this deal done with as much security as possible, both financially and in terms of approvals.”

One crucial part of the deal will be meeting Liberty Media’s demands for an expanded Paddock Club.

“We must allocate an area of approximately 5,000 square meters, including the press room,” Damiani said. “This is an important element for F1, and we will undoubtedly be able to have a very profitable space.”

(GMM) Monza doesn’t have “a single minute to waste” as it bids to secure its historic place on the Formula 1 calendar.

That is the frank claim of F1 CEO Stefano Domenicali, as Corriere della Sera and other Italian publications reveal that urgent upgrade works have now kicked off at the Italian GP venue.

Related Rumor: Both Monza and Imola to host F1 races through 2030

Domenicali, representing the sport’s commercial owner Liberty Media, had demanded the works – including new grandstands and paddock club – as a prerequisite to a new F1 contract for Monza.

As the works kicked off, an event on the fabled starting straight involved Italian deputy prime minister Matteo Salvini and other notable figures.

“Completing the works in 140 days is the last chance for Monza to remain on the F1 calendar beyond 2025,” Corriere della Sera noted.

At the launch event, Domenicali appeared by video link and commented that the works are “absolutely necessary as a business card to bring Italy into the world”.

“100 years of history are important, but looking only behind is useless. There is not a single minute to waste.”

As for Angelo Sticchi Damiani, boss of the Italian automobile club, he acknowledged that a new Formula 1 contract for Monza will also mean a new race fee.

“Monza’s fees will adapt to those of other European racetracks,” he said, “and it is unthinkable to think of covering them only with the sale of tickets.”

(GMM) Monza needs to offer more for spectators in order to qualify for a new Formula 1 race deal beyond 2025, the sport’s CEO insists.

Italian automobile chief Angelo Sticchi Damiani admitted this week that he is in a “hurry” to sit down with talks with Liberty Media.

And Stefano Domenicali, who runs F1 on behalf of Liberty, confirmed that he will sit down with Sticchi Damiani over the course of this weekend’s Italian GP.

“There will also be government figures who have made a commitment and confirmed to me by telephone in recent days that work on the racetrack will begin as soon as this weekend ends,” the Italian told Sky Italia.

Domenicali says the circuit improvements are necessary for the contract extension.

“As we have always said,” he explained, “there is a need to give a signal of renewal for a structure that has a history, but it needs to give substance to the expectations that all the people and fans who come here have.

“There must be great attention to offering a service that must be adequate for the price that the fans pay,” Domenicali added.

“We must give a concrete answer to those who want to have fun and feel good as they find services around the world that are getting better and better in light of a push of competition among promoters to see who does the best work.”

Meanwhile, Domenicali says he is open to talks with F1 teams about potentially tweaking the budget cap so that Red Bull’s rivals have a chance to catch up.

“We have to evaluate everything,” he said.

“This issue hasn’t been discussed lately, but I would like to see a F1 capable of reacting, in a context of limited resources, with the ability of engineers to be faster in development-related activities.”