Page 15 - Monaco Economy 122

28 metres. This area now houses the racing the result of more tough, bitter and complex VAT generated for the state is fairly equal to the
team garages and in addition, the swimming discussions than in the past – and that is not subsidy granted by the government... Just one
pool road now is a new axis for urban traffic even taking into consideration the numerous example is that we issue 11,000 free passes to
during the rest of the year. newer modern circuits with unlimited budgets access buildings on the circuit or boat access
that give us stiff competition. during the Grand Prix period. Let’s say that
How has the Club evolved? 10,000 of those are then sold to “friends” for
In 1971/1972, the ACM covered 300 m², had At what stage are the negotiations? 1500-2000 € each to watch the races from
1,000 members, eight employees and ran This year we are still under the old contract. balconies or boats… you can easily calculate
two events, namely the Grand Prix and the We will try to start again in 2023, for a period how much that makes… therefore the subsidy
Monte-Carlo Rally. Our premises today occupy between 3 and 5 years in order to have more given by the government is actually reduced
approximately 2,500 m . The Automobile Club visibility for the future of F1. I am not at all sure even more.
2
employs 65 permanent staff and has 5,452 that Liberty, the company that owns all of the
members. We also have 34,800 m² of rental Grand Prix today, won't sell at some point. For Since 1929, you have been assembling and
warehouse space in France and Italy where our future contract, certain points have already disassembling the circuit. Is everything done
we store equipment for the construction of been verbally agreed upon – except for the in close coordination with authorities?
the circuit each year. In order to become more harder ones such as the price of the grid and We have a supervisory authority like all
interesting for our members, we created the other touchy clauses and different rights that associations. At present, it is the government
restaurant, a shop with registered trademarks we had up to 2022. minister, Patrice Cellario, who has perfect
and in another domain an advertising agency. knowledge of what is going on both backstage
Finally, we set about creating a body of 650 Are the other races expensive to organise? and centre stage at the Grand Prix - but
Track and Road Marshals, recognized today What is expensive is essentially the assembly everyone is independent: the ACM is certainly
as the best in the F1 World Championship. In of the Grand Prix (railings, control tower and subsidised by the government but retains full
addition to the two legendary events (Monaco so on). Once the circuit is “assembled”, it like autonomy. Nothing would be possible without
Grand Prix and Rallye de Monte Carlo), we now a horse racecourse, you change the horses, the state which, beyond the subsidy, grants
welcome the ePrix – which brings us to three nothing else… F1, just like the Monte Carlo us so much necessary assistance that is
FIA World Championship events. There was also Rallye, receives a balancing subsidy from remarkable and professional. ACM has access
the creation of a Historic Rally, a Historic Grand the State. The Historic Grand Prix and the to approximately 650 marshals in the field, 100
Prix, a New Energies Rally and, periodically, a Historic Rallye and the E-prix usually break people in the different commissions and in the
Classic Car Concours d'Elegance. even, depending upon which year. race direction, approximately 600 controlers
and ushers for grand stand seats, 200 private
How much does the organisation of Monaco Is the future of motor racing electric? security and of course the remarkable help from
Grand Prix cost? Last year's Monaco ePrix, the cars raced on the Monaco Red Cross volunteers. We could
To put everything in working order, it costs the same circuit as F1. They have made great estimate around 2000 people total including
€35 million. The overall total includes the strides, with larger battery capacity and higher public employees and people hired by the
construction of the circuit itself, the materials, speeds. We had a final over the last eight laps ACM that help out for the Formula 1 Grand
the stands and so on, plus the price of the grid. just as good, if not better, than some F1 races, Prix. These events have other benefits for the
a very close-run thing! Principality, such as repairing the asphalt. When
“To put everything in working And this year, the you see the construction lorries degrading the
road surface, it's nice for everyone that the
electrical capabilities
order, it costs €35 million.” are further improved. asphalt is redone every year on the circuit. A
Even F1s are going special mention goes out to all of the people
hybrid, so that's that assemble the necessary structures and
On that note, how much does the Monaco probably the future, even if some mad all the others that help out - the chauffeurs
Grand Prix F1 field cost? Is it cheaper than professors believe the future is hydrogen or and technicians that work on the circuit, the
that of other Grand Prix? another energy source. cleaning services, the medical personnel,
We are in the process of negotiating the etc. We can say, without hesitation, that the
renewal of our contract that should link us with Does the Monaco Grand Prix represent a coordination of the manpower and materials
the Formula 1 from the 2023 Grand Prix. The considerable windfall for the Monégasque is at maximum efficiency and is certainly one
only thing I can tell you is that it varies from state in terms of VAT? of the best in the world.
1 to 3 times as much depending on the Grand Profits for the Principality, according to the
Prix. Contrary to what has been said, we have IMSEE, are approximately €100 million euros However...
always paid for the grid but to be honest, after only for the F1. Then there is the turnover I know what you are going to say.
difficult negotiations, we have always had very concerning the other events – which most The only problem that may arise is if the
favourable conditions. I will try to negotiate likely pushes the figure to €120 million or government itself amputates bits of the Grand
to continue in the same manner – but our maybe more considering all the other parallel Prix circuit for new real estate projects, which
contract that will take effect in 2023 will be business (generating more VAT). In short, the would put us in difficulty. This is why I have

15