Monaco admits it pays low fee for F1 race
- Published on 04 May 2017 15:06
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- By: Rob Veenstra
Monaco has denied it pays no fee to host the fabled street race in the Principality. The race is commonly called F1's 'jewel in the crown', amid rumours its history and status meant it was the only event on the annual schedule that is charged no fee.
"That's just a rumour," Monaco's Prince Albert II told the FIA magazine Auto. "Maybe the rights are less expensive than for other circuits, but there is a fee," he said. The Prince's comments come after the now-ousted F1 supremo Bernie Ecclestone recently admitted that he overcharged some race promoters.
But now it is confirmed that Ecclestone actually under-charged Monaco. Prince Albert II said: "Bernie was well aware what Monaco brought to formula one -- he said it himself, as do the sponsors and drivers. He always took care of us, but he still made us pay what he reckoned was the right amount." (GMM)
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Replies (3)
Login to replycalle.itw
Posts: 8,527
With a good reason. Monaco is one of the highlights of the season, not necessarily because it has the best races or anything, but because it is Monaco.
mclarenfan1968
Posts: 1,027
That's not reason enough for them to get a special privilege over far better races that are battling for mere survival. It's all about money that Monaco generates for F1 through other questionable and some outright shady means. It is a nexus of the scumbags from the elite so of course the race has to go on. Infact Monaco was and never will be about the F1 race, it is everything about the stuff that goes on at Monaco besides the race.
calle.itw
Posts: 8,527
Well, the race is one of the main draws for viewers on the calendar. If Monaco gets the boot, F1 can forget about a decent amount of revenue. I find it quite rational that they get a cut. It should be similar for several other occasions, of course, but Monaco is a notable example.