F1 News: Historical Track Faces Removal As Costs Rise
Despite hosting the Belgian Grand Prix, the Circuit de Spa-Francorchamps has reportedly faced financial losses over the last three events, raising concerns about its future on the Formula 1 calendar. These losses have occurred despite the Belgian GP's ticket prices being among the highest in comparison to other European races.
Key Takeaways:
- The Circuit de Spa-Francorchamps, host of the Belgian Grand Prix, has suffered financial losses over the past three events, despite charging high ticket prices compared to other European races.
- Despite its rich history in Formula 1 dating back to 1950, Spa's future on the calendar is uncertain due to escalating hosting costs, with fees projected to increase from €23.5 million in 2023 to €28 million by 2025 and beyond.
- Speculation about Spa's removal from the calendar has arisen before, but one-year agreements have kept it in place. However, reaching an agreement seems challenging now as Formula 1 demands higher fees, and Liberty Media has notified organizers of further fee increases starting in 2026.
Spa has been a fixture on the Formula 1 calendar since 1950, boasting a rich history in the sport. While it is scheduled to host the Belgian Grand Prix in 2024 and 2025, uncertainty looms over its future due to the escalating costs associated with hosting the event.
Red Bull Press Image
According to GPBlog, hosting fees for the race have surged, reaching €23.5 million in 2023, and projected to rise to €28 million by 2025 and beyond. Despite steep ticket prices, the circuit has faced losses in its recent events, adding to concerns about its financial viability.
Speculation about the track's removal from the calendar had surfaced in the past, but one-year agreements have preserved its place due to its popularity among drivers and fans. However, reaching an agreement seems challenging this time, as Formula 1 demands higher fees to retain the Grand Prix hosting rights.
As Liberty Media raises the stakes, organizers face mounting challenges, particularly with yearly financial losses. Despite ongoing deficits and reluctance from the local government to boost funding, sustaining the race becomes increasingly daunting. Adding to the pressure, Liberty Media has notified Belgian Grand Prix organizers that fees will further increase starting in 2026.
