Angelo Sticchi Damiani, president of the Automobile Club d’Italia, has stated that a renewed deal for Monza to host the Italian Grand Prix is still “far away”.
Like Silverstone, Monza’s current contract to host Formula 1 races expires following the 2019 event and are continuing to negotiate with Liberty Media over a new extension.
Italian publication Corriere della Sera are reporting that Liberty want Monza to agree a new five-year deal which would cost in the region of €122m, but that figure far exceeds what Automobile Club d’Italia are willing to pay.
“Renewal is far away but we are confident that a solution can be found in the interests of all,” Damiani told Corriere della Sera.
“Monza is keen to host F1, so for F1 it is important to have Monza.
“For the 2019 edition we will pay 24 million dollars (20m Euros), a very high price.
“We want to continue, but only with an economically sustainable framework, we cannot put ACI’s budget at risk.”
Liberty have made no secret of the fact that they are willing to replace races that are “unattractive” in an economical sense and are actively chasing second races in key markets such as America and China.
The Italian Grand Prix, meanwhile, saw an increase in attendance figures over the course of the weekend event in 2018, but were still unable to record a profit.