Spa pens three-year contract extension
The Belgian Grand Prix will remain on the Formula 1 calendar until at least 2021 after agreeing a new three-year contract extension with owners Liberty Media.
The Circuit de Spa-Francorchamps’ contract was originally up for renewal following this year’s race, however, the local government sat down with Liberty this week to discuss a new deal.
Spa has been the permanent home of the Belgian Grand Prix since 1985 and, according to statistics, the 2018 event will welcome more than 200,000 fans across all four days, with 75,000 tickets sold for race day alone.
Vice president of Spa-Francorchamps’ Wallonian government Pierre-Yves Jeholet believes the agreement of a new contract is important for the region and for F1.
“It’s a good deal which ensures that the region of Wallonia retains an event which contributes to the promotion the region on the world stage,” he told L’Echo.
“It’s also a new era because it’s the first time we’re negotiating with the directors of Liberty Media.
“The proceeds for the Wallonian economy were EUR20.5 million in 2017, an increase of 21% from 2016.”