Formula 1 confirms new Belgian GP deal
Formula 1 has confirmed it has sealed a new three-year deal with the Belgian Grand Prix to keep the Spa circuit event on the calendar at least until 2021.
The current deal for the Belgian track - which hosted its first F1 race in 1950 - was set to expire after this year's race.
"We are really pleased to have reached this agreement which means that the Formula 1 Belgian Grand Prix will stay on the calendar for a further three years," said Chloe Targett-Adams', F1's director of promoters and business relations.
"Formula 1 was born in Europe and the future of this sport needs to maintain its solid roots, while expanding globally and Spa- Francorchamps is part of that fantastic history.
"We are particularly pleased that the new agreement is an improvement on the previous one, for Formula 1 and for our partner Spa Grand Prix so that fans attending this race will enjoy a truly unforgettable experience."
Pierre Yves-Jeholet, minister for economy of the regional Wallonian government, added: "This is a good deal which makes sure that such an important event stays in our region, thus placing us on a global visibility platform.
"The regional and national economic benefit is significant: in 2017 we had a return on investment of 315% and ticket sales increased by 7.5%. It is also a significant first for us as we have now concluded a successful and rewarding negotiation with Formula 1."
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