Monza is closing in on a new deal to secure another seven years of hosting Italian Grand Prix.
The historic circuit's future has been in doubt for some time after failing to agree new terms for an extension beyond 2016 with F1 boss Bernie Ecclestone. Several alternatives for the Italian race were proposed for future, including an alternate deal with former San Marino Grand Prix host Imola.
However, a recent amendment to Italy's Stability Law now allows the Automobile Club of Italy (ACI) to help fund the event in the future, thus making a new deal more affordable.
The head of the ACI, Angelo Sticchi Damiani, says talks for a new deal are now progressing well and is confident a deal will be completed soon to keep Monza on the calendar.
"The Autodromo di Monza has had difficult times, but the worst is over and now we are close to signing with Ecclestone to have Formula One in Brianza for another seven years," he told the Gazzetta dello Sport."We're going to win a battle that led to the ACI making tremendous sacrifices."
Monza, nicknamed the Temple of Speed, is the fastest circuit on the F1 calendar and featured in every F1 world championship season except 1980.