FII PRIORITY Summit in Miami Discusses Investment in Sports

Discussions at the PRIORITY Summit, organized by the Future Investment Initiative (FII) Institute in Miami, focused on the second day on investment in sports
Discussions at the PRIORITY Summit, organized by the Future Investment Initiative (FII) Institute in Miami, focused on the second day on investment in sports
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FII PRIORITY Summit in Miami Discusses Investment in Sports

Discussions at the PRIORITY Summit, organized by the Future Investment Initiative (FII) Institute in Miami, focused on the second day on investment in sports
Discussions at the PRIORITY Summit, organized by the Future Investment Initiative (FII) Institute in Miami, focused on the second day on investment in sports

Sessions, discussions and dialogues at the PRIORITY Summit, organized by the Future Investment Initiative (FII) Institute in Miami, focused on the second day on investment in sports.
One of the most important questions raised at the summit themed, "On the Edge of a New Frontier," was: What drives growth in sports assets and innovation in sports? How do investors and owners of sports teams reshape sports financially? Speakers pointed out that in recent years, sports investment has witnessed a major transformation with the increase in media broadcast rights for sports events and tournaments, and the achievement of high financial returns as a result of investment projects in this vital field, which attracts many followers around the world.
Speakers at the sessions explained that investing in sports is not just about winning games, but it is rather a huge platform that brings communities together and gets to know each other.
Participants also spoke about the development of sports investment with increasing financial returns in paid broadcasting rights, and about increasing demand, digital expansion, and accessing more global markets, as investors support shaping sports financially and practically, while taking advantage of modern technologies to attract new fans and followers in watching sports tournaments.
The participants also touched upon ways to invest in art, entertainment, museums and media, and the role of media and entertainment companies in developing content across various platforms to attract wider audiences, generate income effectively, and shape culture in their countries.



Belgian Grand Prix Gets Contract Extension but Set to Be Dropped from Schedule in 2028 and 2030

Ferrari driver Sebastian Vettel of Germany steers his car during the second free practice at the Spa-Francorchamps circuit, Belgium, on Aug. 21, 2015. (AP)
Ferrari driver Sebastian Vettel of Germany steers his car during the second free practice at the Spa-Francorchamps circuit, Belgium, on Aug. 21, 2015. (AP)
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Belgian Grand Prix Gets Contract Extension but Set to Be Dropped from Schedule in 2028 and 2030

Ferrari driver Sebastian Vettel of Germany steers his car during the second free practice at the Spa-Francorchamps circuit, Belgium, on Aug. 21, 2015. (AP)
Ferrari driver Sebastian Vettel of Germany steers his car during the second free practice at the Spa-Francorchamps circuit, Belgium, on Aug. 21, 2015. (AP)

Formula 1 has extended its contract with the Belgian Grand Prix, but one of the sport's most established races is set to be dropped from the schedule in 2028 and 2030.

The extension starting from next year includes races only in 2026, 2027, 2029 and 2031, F1 said Wednesday.

F1’s push in recent years to expand the schedule with more races in the United States and Asia has meant more competition for traditional venues in Europe seeking to keep their places on the calendar.

The Spa-Francorchamps circuit, a favorite with many drivers for its flowing high-speed layout through forested hills, was on the F1 schedule for the first championship season in 1950 and has been on the calendar every year since 2007.

"The Belgian Grand Prix was one of the races that made up our maiden Championship in 1950, so as we kick off our 75th anniversary year it is fitting that we can share the news of this important extension," F1 president and chief executive Stefano Domenicali said in a statement.

"Spa-Francorchamps is rightly lauded by drivers and fans alike as one of the finest racetracks in the world and it has played host to some incredible moments over its many seasons in Formula 1."

This year's Belgian Grand Prix race weekend is from July 25 through 27, including a sprint race.