Spa signs new three-year extension with Liberty

Date published: June 16 2018 - Editor

Spa will continue to host the Belgian Grand Prix through to the end of 2021 after the local government agreed a new deal with Liberty Media.

The Spa-Francorchamps circuit is one of the more popular tracks with drivers and fans alike.

That, though, has not stopped the local government from having to pick up the costs when the race, like many others, runs at a loss.

This has been off-set by the economic benefits for the Walloon region.

As such the local government believes it is an event worth keeping and has agreed a new contract with Liberty Media.

“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,” Pierre-Yves Jeholet, Wallonia’s vice president and economy minister, 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 20.5 million Euros in 2017, an increase of 21 percent from 2016.”