Liberty offer to save Italian GP must be sustainable, says ACI president

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The president of Italy's motorsport authority, the ACI, has said the Italian Grand Prix at Monza will only continue if the terms are sustainable.

Only once since 1950 has Formula 1 not visited the 'Temple of Speed' when Imola hosted the race in 1980, however, in keeping up with rising fees, Monza has been struggling financially, following the likes of Nurburgring and Silverstone.

This year's race is the last under the current contract and it is hoped the Italian GP can be kept on until 2022, the centenary of Monza's opening, but the latest update is not exactly encouraging.

"Renewal is far away but we are confident that a solution can be found in the interests of all," Angelo Sticchi Damiani told Corriere della Sera. "Monza is keen to host F1 and for F1 it is important to have Monza.

"For the 2019 edition, we will pay $24m, a very high price," he revealed. "We want to continue, but only with an economically sustainable framework, we cannot put ACI's budget at risk."

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It is understood Liberty Media has put a new five-year contract on the table until the end of 2024 with the Italian publication putting a figure of 122.5m Euros as the fee being requested.

However, with the race still running at a loss despite increased attendance in 2018, that number is above what the ACI can afford even with subsidies from local government.

With F1's promoter association recently highlighting the peril of traditional races as Liberty brings in new events like Vietnam, it will be interesting to see just how far the sport's owners will go to ensure Italy remains on the calendar in 2020.