The 2024 Belgian GP was a great success for Mercedes, but it was a disappointment for the organization behind the Spa-Francorchamps race. According to estimates, the organization suffered a loss of at least three million euros. This is bad news for the Grand Prix organization, which also failed to turn a profit in 2022 and 2023.
In 2024, 380,000 fans watched over the three-day Belgian Grand Prix as Lewis Hamilton, following the disqualification of teammate George Russell, took the win. Unfortunately for the organization behind the event, the Grand Prix weekend was accompanied by a significant financial loss. Melchior Wathelet, chairman of the Spa GP, reported this last Friday at the Brussels Auto Show. The chairman did not yet disclose the exact loss the race weekend at Spa-Francorchamps incurred.
According to the latest estimates, however, the 2024 Belgian GP suffered a loss between 3 and 3.5 million euros. Speedcafe claims that the amount is even higher, reportedly at eight million euros, once government subsidies are taken into account. The debt of the Belgian GP is paid off annually by the Walloon Region.
The bad news for the organization comes after it also struggled financially in 2022 and 2023. In 2022, the organization behind the Belgian GP ended with a deficit of over five million, while a loss of 2.3 million was incurred a year later.
Rotation
The ongoing loss of the Belgian GP does not seem to have any impact on the future of the circuit for now. Formula 1 announced in early January that the race at Spa-Francorchamps will remain on the calendar for the time being. However, the Grand Prix will be rotating.
