The Belgian Grand Prix (GP) in Formula 1 recorded a financial loss of €3 to €3.5 million in 2024, announced Spa Grand Prix chair Melchior Wathelet on the sidelines of the Brussels Motor Show.
At the end of July last year, a total of 380,000 people attended the three-day event at the Spa-Francorchamps circuit, where the Belgian GP took place. This number, however, was not enough to stay out of the red.
A final balance sheet cannot yet be drawn up; the financial accounts must first be consolidated, which means that the accounts of the various entities must be combined.
In 2023, the organising company already recorded a loss of €2.3 million. According to Spa GP, the growing deficit in 2024 can be explained by major investments and promotional campaigns. The debts of Spa GP are paid off every year by the Walloon Region – which politicians defend by pointing to the economic return of the event.
The next Belgian Grand Prix will be organised during the weekend of 25 to 27 July this year. The event will definitely return to Spa-Francorchamps until 2031, although this will no longer happen annually. In 2028 and 2030, the Formula 1 race will not take place in Belgium.
