This is what Imola is paying Liberty Media to host Formula 1 in 2021

The Grand Prix at the Imola circuit will undergo a name change in 2021. This year's Formula One weekend will be known as the 'Grand Prix of Made in Italy and Emilia-Romagna'. Furthermore, it seems that a multi-million sum will be paid to Liberty Media to host the premier class of motor sport.

Last year, Formula One returned to the Autodromo Internazionale Enzo e Dino Ferrari due to cancelled races caused by the coronavirus crisis. Imola offered itself as a solution and did not have to pay anything to Liberty Media.

Next season it will be a different story, as Motorsport.com reports that the deal involves a sum of ten million euros. That is exactly the reason why the word 'Made in Italy' has been added to the full name. 

Italian politics will pay

'The Emilia-Romagna Region, Con.Ami (the 23 municipalities surrounding Imola) and the Italian Ministry of Foreign Affairs have joined forces to cough up that sum. The involvement of national politics seems to be reflected by adding the slogan Made in Italy to the name of the race. With this, Italy hopes to increase the awareness of and interest in Italian products', can be read on the Italian website.

The agreement concerns a one-year contract according to the latest reports. After that Liberty Media hopes to enter more countries outside Europe.