Formula 1 will race in Belgium through to 2025 after reaching an agreement with promotors for the Spa-Francorchamps circuit.
Spa was under pressure to keep its place on the calendar due to the current Concorde Agreement limiting races to 24 per-season, however with the future of Imola also in doubt it has enabled it to remain.
The circuit has underwent significant development of its infrastructure in recent years, which includes an increase of capacity by 10,000 with the addition of two new grandstands.
The 2023 edition saw an attendance of 380,000 people across the weekend, an increase of 20,000 from 2022.
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Important economic impact
Stefano Domenicali, President and CEO of F1, said: "Spa is synonymous with Formula 1 having been one of the circuits in our first ever season and is much-loved by fans and drivers alike, so I am delighted to extend our relationship with them until 2025.
"The promoter has taken big strides in the last few years to improve the fan experience and infrastructure, and work is ongoing between all the stakeholders with a clear focus on delivering safe and exciting racing. I would like to thank the promoter and the Government of Wallonia for their continued support.”
Willy Borsus, Vice-President and Minister for the Economy of Wallonia, praised to the economic impact of the race in the region.
“We are proud and excited to announce that the Formula 1 Grand Prix will take place in Wallonia in 2025. Our region will once again rise to the top of the international scene, thanks to its high-quality events and legendary sports infrastructure.
"Beyond the prestige, I would like to emphasise the considerable economic impact that this event brings to Wallonia and Belgium. According to a study carried out in 2021, the Grand Prix generates positive spin-offs of €41.8 million for our region, after deduction of public funding, which is steadily decreasing.
"These figures constitute a solid indication of the financial impact, and the positive outlook means that we can expect even more positive results this year. The Formula 1 Grand Prix thus embodies both an emblematic moment in motor sport and a powerful engine of economic growth for our Region.”