Formula 1 News: Promoter must pay more to save Belgian GP (Update)

(GMM) The promoter of the legendary Belgian GP at fabled Spa-Francorchamps says the event wants to dodge Formula 1’s plans to annually alternate some European races in the future.

After next weekend’s Hungarian GP, F1 will complete its pre-August break schedule at Spa, with promoter Vanessa Maes revealing that ticket sales are going well.

“There are less than 1,500 places available,” she is quoted by France’s Auto Hebdo. “They should be gone in the next few days.

“For the first time in a few years, the Dutch will not be in the majority, making up just under 20 percent of the public. We are seeing a strong comeback of the English and Germans and especially the French.”

The bad news, however, is that 2025 is the final yet in the current Belgian GP contract with Formula 1 – with the sport openly exploring pairing some European rounds in the future that will then annually rotate hosting rights.

“In agreement with the political authorities, we are fighting to secure a multi-year contract without alternation from 2026,” Maes admits.

“The fact that the previous political majority was renewed should help us,” she added. “The condition is that Liberty Media is reasonable in its financial demands.

“Every year, the Walloon region has to dig into its pockets to cover the deficit of the grand prix, so that cannot take on excessively large proportions.”

(GMM) Promoters of the fabled Belgian GP at Spa-Francorchamps must pay a larger Hosting Fee to extend its Formula 1 race deal beyond 2025.

Late last year, the immediate dark cloud of uncertainty over the race’s future was lifted when Spa Grand Prix, the promoter, managed to sign a mere one-year extension to its expiring deal.

The apparent reason for the unusually short duration, in an era where decade-long or even longer contracts are favored by Liberty Media, is that the current promoter could not afford to pay more.

Barcelona is currently pushing for a new deal, having already lost the ‘Spanish Grand Prix’ official title for 2026 and beyond to higher bidders in Madrid.

Marca sports newspaper believes the Barcelona organizers would be happy with the ‘European GP’ name, but a deal would involve a much higher annual race fee payable to F1.

Spanish sources have reported that Barcelona currently pays just EUR 26m per race – while the new decade-long Madrid deal is for more than double that amount every year.

And now, La Libre – a Belgian newspaper – is reporting that promoter Spa Grand Prix also needs to significantly up its offer to F1 for a new Belgian GP deal beyond 2025.

That is because Spa currently pays about the same amount as the similarly endangered Barcelona event.

Based on La Libre’s report, Belga news agency explains: “The cost of organizing the grand prix at Spa-Francorchamps is increasing year by year.

“The costs will rise by 5 million euros in two years – from 23.5 million euros last year to 25 million in 2024 and 28 million in 2025.”

Related Article: Belgian GP will remain at Spa through 2025

But that’s not enough.

Paying more will be difficult for Spa Grand Prix to manage, given that it is wholly owned by the regional Walloon government.

“Spa Grand Prix organizes the race but has never been able to balance its budget,” the report said. “And the region has done all it can to reduce the deficit.

“According to Walloon economy minister Willy Borsus, the deficit in 2023 was 3.2m euros, compared to 5.6m in 2022 and 7.3m in 2021.”