Monza chief waiting on a Christmas miracle

Once the agreement with local government authorities is concluded it will pave the way for a new deal to host Formula 1 through 2022 which will mark a century of racing activity at the Temple of Speed.

Monza National Circuit was inaugurated in September 1922 and Angelo Sticchi Damiani, president of ACI and the majority shareholder of the company (Società Incremento Automobilismo e Sport aka SIAS S.p.a.) that built the track in the 1920s and now manages it, intends making the 100th anniversary of the race a special one.

But first, he needs to renegotiate deals with local government organisations and then pen a long-term contract with Liberty Media, after which Damiani said, "We'll find the money with these two deals in place."

Much needed refurbishment and modernisation of the venue is on the cards, including areas such as the accessways, subways, bridges and general infrastructure.

On the iconic track itself, the intention is to restore the original radius of the second Lesmo which was tightened in 1994 after the tragedy of Ayrton Senna at Imola. The changes were mandatory at the time, in response to safety regulations.

Other tweaks to the layout will be modifications to the second Variante where Lewis Hamilton and Sebastian Vettel tangled this past season.

Also on the cards is widening of the track surface to 12 meters as is required by the FIA, for which Monza has an exemption because of the history of the place.

Andrea Cremonesi of Gazzetta dello Sport reports that these ambitions hinge on renewing an existing agreement with the Park Consortium, namely the municipalities of Milan, Monza and the Lombardy Region who collectively own and govern the land, and thereafter inking a contract with the sport's owners Liberty Media to continue hosting Formula 1.

Damiani explained, "The agreement [which includes rent paid annually by SIAS] expires in two years, we are seeking a long agreement that will justify such an investment. In September there was a summit in the Region, we all agreed but three months have passed and the only concrete signal of intent has been the regional allocation of €15-million."

"It's now decision time because without the agreement [with local authorities] how do I close a deal with Liberty? An agreement that is very complicated, among other things, and we still have areas to negotiate. We have also not talked about money yet," revealed the Monza chief who added, "We're waiting for a Christmas miracle."

Monza has hosted the Italian Grand Prix 68 times, the first grand prix held at the venue was on 10 September 1922, while the first of the modern era - the first year of the FIA Formula 1 World Championship as we know it - was run on 3 September 1950 and won by Giuseppe Farina in an Alfa Romeo.