Belgian GP secures 3 year F1 contract extension

Belgian GP will be on the F1 calendar for 3 more years according to the deal signed between the local government and Liberty Media, reports Belgian business newspaper L’Echo.

The local government has played a huge role in the existence and sustenance of the Belgian Grand Prix, as they have paid off the annual operating losses all these years.

“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,” said Wallonia’s vice president and economy minister Pierre-Yves Jeholet, as quoted by 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 percent from 2016.” he added.

The Grand Prix gets its fan following from Netherlands as Verstappen has been on the rise in F1 world. The crowd from Netherlands has thus helped the Belgian GP sell their tickets.

Reportedly 200,000 have already been sold for this year’s GP, out of which 75000 are for raceday.

Wallonia, the region in which the Belgian GP is held gets a lot of boost from fans visiting the region during the Grand Prix period.

Now with Belgian GP all set to be held for the next 3 years, it will be interesting to see how Liberty Media goes about adding new circuits for the next few years.

From what Liberty have been proclaiming, it looks like they are in favour of adding a few street circuits, if it all.

Which new circuits do you wish to see?