The Belgian GP, one of Formula 1's trademark races, has secured its place on the calendar until 2021 after signing a new three-year deal with Liberty Media on Friday.
Held at the famous Spa-Francorchamps circuit, it is considered one of the most prestigious events of the year among drivers and fans with a trip to the Ardennes Forest considered a must.
In recent years, the rise of Max Verstappen has also provided a very welcome boost for organisers as thousands of Dutch fans flock to Spa to make it a home race for the Red Bull driver, who was actually born in Belgium.
That is why a new contract has been swiftly agreed despite the financial losses the race has made over the 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,” Pierre-Yves Jeholet, Wallonia’s vice president and economy minister, told L’Echo.
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“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 per cent from 2016.”
This could offer some hope for other iconic European races that are coming up for contract renewals with Britain, Italy and Germany all facing uncertain futures.
