Earlier, there had been talks of Monza possibly pulling out of F1 in the future due to financial issues. But now, the iconic venue could remain on the F1 calendar, in a spot of good news.

As it turns out the Italian Government are willing to provide a financial boost to the venue. According to German news outlet SID, Italian right-wing political party Lega tabled a bill to protect the Monza F1 race. Lega pitched this very bill in the parliament in Rome last week.

According to the bill, the F1 race in Monza will be seen as a “traditional grand prix”. In addition to that, they will be funded by the state with around 10 million euros flowing in every year.

Now, the Italian Senate look set to vote on the bill and hopefully there is a positive outcome. The Formula 1 Italian Grand Prix has fallen on hard times in recent years. In fact, the 2018 race recorded a 12 million euro loss.

“The cost of the grand prix at Monza is too high for us,” admitted Angelo Sticchi Damiani. Damiani is the boss of the Italian automobile club ACI.

Last year, the fate of the F1 GP in the Italian city was in major trouble over plummeting ticket prices.

Speaking to La Gazetta Dello Sport in 2018, Damiani said, “We closed last year’s race with a strong loss, and the 2018 budget will not be different either.”

“It is clear that such a situation is not sustainable in the long term. The ACI is ready to do its part, but not under any conditions.

“[Chase] Carey has always told me that an F1 without Monza is unthinkable, and in four years it will celebrate its centenary. We agree on that, but we must also deal in facts.”