Spa gets green light for 2007
|Thursday, October 12th 2006, 09:41 GMT|
Formula One supremo Bernie Ecclestone has given his final approval for the Belgian Grand Prix to return to the calendar next season after signing a deal with the event's new organisers.
The Spa-Francorchamps race was dropped from this year's calendar because track improvement work could not be completed in time. Further complications were caused by the bankruptcy of the Grand Prix's former promoters DDF1.
But with the £25 million upgrade having now been approved, Ecclestone inked a deal with new promoters 'Spa-Grand Prix' for next year's event in London on Wednesday.
The situation beyond 2007 has not been finalised yet, with three scenarios being talked about.
They are that Spa-Grand Prix could stay on as organisers, the regional government cancel the race and pay Ecclestone £12 million in compensation, or Ecclestone himself takes full control of the event until 2010 as well as receiving compensation.