The Italian government look set to save the future of the Italian Grand Prix at Monza following months of uncertainty surrounding its future.
Italian Grand Prix organisers and Bernie Ecclestone have been locked in negotiations for months to secure the showpiece at Monza beyond its current contract which is due to expire following the 2016 race.
During the Monaco Grand Prix this year, Ecclestone and Italian Grand Prix Representatives met to discuss the future of Formula 1 at Monza to no avail.
SIGN UP NOW
Want to become a GMS writer? Sign up now and submit a 250 word test article: http://gms.to/haveyoursay4
Then at the Italian Grand Prix, Bernie met with the Prime Minister Matteo Renzi to discuss the future of the event but there was little sign of a deal being agreed.
However, things may be making a big step towards resolving this issue thanks to a government amendment to one of its laws.
Previously, the Automobile Club of Italy had been unable to fund any shortfall in finances because of the limitations laid down by the government’s laws.
However, the ‘Camera’s Budget Committee has now made an amendment to Article 183 of its Stability Law, which will allow the ACI to help fund the Italian GP.
There had previously been limitations on how the ACI could use its resources as some of its income comes from road licensing activities. This made it unclear how much money was actually coming from the sporting side.
It is now hoped that the change in the law, which could be approved before Christmas, will pave the way for a new Italian GP deal that could last seven years.