The Italian Grand Prix flopped to 15 million euros loss

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The Italian GP recorded a loss of 15 million euros, with the number of participants in the race this year being well below expectations.

After the 2020 Monza race weekend behind closed doors, the circuit welcomed fans back to the stands this year.

Due to the ongoing pandemic, attendance was limited to 50% of total capacity each day, with the goal of reaching this limit.

However, the number of ticket sales ultimately turned out to be extremely disappointing, with only 16,000 race day sales.

Circuit president Giuseppe Redaelli has now revealed that this resulted in a total loss of € 15million, and has said changes will be made in the future as a result.

“We are working to improve the use of the track as a ‘Temple of Speed’ and want to focus more on research and innovation in the future,” he told Gazzetta dello Sport.

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There are a number of potential reasons why fan interest was lower than usual.

While Ferrari is no longer in the lead and people remain cautious due to the pandemic are factors, many believe the main one was the high prices.

Due to the pandemic, the cheapest seats on the grass were removed and the cheapest tickets were still 100 euros, perhaps discouraging many Tifosi.

Some Italian media believe this has particularly alienated young people, with many choosing to wait outside hotels for drivers to stay in glimpses instead of heading to the circuit.

Whatever the cause, the lack of people in the stands has worried FIA President Jean Todt, and F1 CEO Stefano Domenicali has admitted that this is an issue regarding the future of the race and if it stays on the calendar.

“We are talking with the organizers precisely to understand how to relaunch the grand prix,” said the former Ferrari leader.

“I find it hard to think of an F1 without Monza, but events are also business and there has to be an economic return to justify them.”

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