Sports
Formula 1 Seeks More Money From Monaco on Eve of Grand Prix
- Principality’s $20 million fee is lowest among the hosts
- Monaco gave up control of TV coverage in 2022 negotations
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Liberty Media Corp., owner of the Formula 1 racing business, is seeking additional funds from the principality of Monaco as part of advanced talks for a new contract to extend the historic car race beyond 2025.
Monaco pays about $20 million a year to host the event, the lowest total on the 24-race calendar, and representatives of Liberty Media are seeking an increase, according to people familiar with the discussions. The parties agreed to the current three-year deal in September 2022. This year’s racing begins on May 24.