Yahoo Autos Spa gets Belgian Grand Prix extension
The Belgian Grand Prix will remain on the Formula 1 calendar until 2025 after signing a one-year contract extension.
The race at Spa-Francorchamps has faced an uncertain future for a number of years and still lacks a long-term deal, but has made recent investments in infrastructure and changes to the track for safety purposes. F1 CEO Stefano Domencali suggests more focus on the track itself is required for a further extension but welcomed the work done so far.
“Spa is synonymous with Formula 1 having been one of the circuits in our first ever season and is much-loved by fans and drivers alike, so I am delighted to extend our relationship with them until 2025,” Domenicali said.
“The promoter has taken big strides in the last few years to improve the fan experience and infrastructure, and work is ongoing between all the stakeholders with a clear focus on delivering safe and exciting racing. I would like to thank the promoter and the Government of Wallonia for their continued support.”
Willy Borsus, the vice-president and minister for the economy of Wallonia, says the race has been finding ways of being impactful for the local region despite reducing the amount of public money that is invested.
“We are proud and excited to announce that the Formula 1 Grand Prix will take place in Wallonia in 2025,” Borsus added. Our region will once again rise to the top of the international scene, thanks to its high-quality events and legendary sports infrastructure.
“Beyond the prestige, I would like to emphasize the considerable economic impact that this event brings to Wallonia and Belgium. According to a study carried out in 2021, the grand prix generates positive spin-offs of €41.8 million ($43.9m) for our region, after deduction of public funding, which is steadily decreasing.
“These figures constitute a solid indication of the financial impact, and the positive outlook means that we can expect even more positive results this year. The Formula 1 Grand Prix thus embodies both an emblematic moment in motor sport and a powerful engine of economic growth for our region.”
