Monza set for F1 rescue talks in Monaco - Capelli

Ivan Capelli, the new chief of the Italian grand prix organiser, has vowed to save the embattled formula one race at historic Monza.

Bernie Ecclestone has blasted the current race contract as a commercial "disaster", warning that the sport will say "bye-bye" to Italy after 2016.

Not only that, local political developments are further endangering the viability of the Italian grand prix, after the withdrawal of key tax concessions.

F1 supremo Ecclestone has already dropped Germany for 2015, notwithstanding the country’s uninterrupted 60-year-old run on the annual F1 calendar.

Capelli said: "The cancellation of the German grand prix shows us a glass half full, but also a glass half empty."

He is quoted by Corriere dello Sport: "Half empty because we have a Mercedes who are the world champions, we have Sebastian Vettel winning for Ferrari, and yet Germany is still gone.

"Half full because the cancellation of the German race will give us more fans who wanted to go to Germany, so I hope we can go back to filling the stands."

But Capelli acknowledged that the first task is to speak to Ecclestone and "change his mind" about Monza, as until now he "does not seem willing to listen".

Capelli, a grand prix driver in the 80s and 90s, revealed that he is travelling to the Monaco grand prix next month for a key meeting with the 84-year-old Briton.