Italian Grand Prix and Monza to Part Ways?

With the next season of Formula 1 still 76 days away, here's a piece of news that might interest/ worry you. Autodromo Nazionale Monza, the premier Italian racing circuit, has been grappling with serious financial issues and relief seems like a distant possibility since the attempt to bailout the circuit was thwarted by the national senate.

Monza has hosted the Formula One Italian Grand Prix since its inception, except in 1980, when the GP was held at Imola. Fun fact: the track measures 5.793 km in length and comprises of 11 turns and 53 laps.

Anyway, back to business. The racing circuit is co-owned by the municipal governments of Monza and Milan, who have been unable to keep the track out of trouble, at least financially. Considering the fact that both, the two cities and the circuit are situated in the Lombardy Region, its government intended to invest about 20 million euros to resuscitate the circuit. The only condition being that the investment was to be exempted from taxes. Turns out, the Italian senate is in no mood to give them a tax-free pass.

This turn of events casts a shadow over the circuit's future and consequently, also on that of the Italian Grand Prix. With the circuit's contract set to end by 2016, the lack of basic funds might make it difficult for the grand prix to stay at Monza beyond that.