Organisers of the Belgian GP believe they are "making progress" in their efforts to keep the Formula 1 race at the historic Spa-Francorchamps circuit alive.
Late last year, Formula 1's owners agreed to a one-year extension on the race contract, meaning that 2025 is currently set to be the final year of the Belgian GP.
It's understood that F1 CEO Stefano Domenicali is considering pairing some European races to make room on the calendar, potentially allowing circuits like Spa to reduce costs by only hosting a race every two years.
Belgian broadcaster RTBF reports that the regional Walloon government provides the promoters at Spa with an annual subsidy of between 3 and 8 million euros. However, Pierre-Yves Jeholet, the Walloon Minister of the Economy, has confirmed that "by 2029, public intervention will decrease."
"We must be able to develop an activity without relying on the 'Mr Cash' of the Walloon region," he added.
"For two years, the circuit has been generating profits, efforts are being made, but we must go further and find more sponsorship and advertising, and attract private investors in order to limit public intervention."
Amaury Bertholomee, the general manager of Spa-Francorchamps, acknowledges the need to address the financial challenges surrounding the future of the circuit's Belgian GP.
"We are going to discuss with the Walloon government," he said, "but we have financial results that are on a sustained and positive trajectory. This will allow us to consider this phasing out (of public financing) in the short term."
Minister Jeholet told the Brussels Times this week that he is directly involved in negotiations with Formula 1 for the post-2025 period.
"We are making progress," he noted, "but not at any cost. The negotiations continue."
