There is trouble afoot at Monza, the scene of the famous and historic Italian grand prix.

On Tuesday morning, Italy’s finance police the Guardia di Finanza entered the Autodromo Nazionale to investigate seven people involved with the operation of the circuit.

According to Il Giorno and La Repubblica, the Monza prosecutor suspects tax offenses, false invoicing and other discrepancies in relation to Sias SpA, the circuit operator, between 2007 and 2012.

Among the suspected offenses is the issuing of invoices for non-existent transactions in order to show a positive balance sheet for the running of some events.

The officers raided the Sias offices and also the home of the circuit director, Enrico Ferrari, and other high ranking officials.

Organisers of the historic Italian grand prix are worried plans to take formula one to Rome will leave historic Monza without a race.

Both the Italian capital and Bernie Ecclestone insist the plans for a street race in the EUR district are no threat to Monza, but officials of the high speed Autodromo Nazionale are not so confident.

“Amid a globalisation of grands prix, each country will inevitably be allowed to stage only one” and “since Rome is the capital, I’m afraid we’d lose the grand prix forever,” Monza boss Enrico Ferrari told Bloomberg.

The Rome city council is due to meet this month to consider how to proceed with its F1 bid.

“Rome is known around the world for its history and landmarks, but we need an event that projects an image of Rome that’s not just about museums,” said city mayor Gianni Alemanno.

“We want to project a modern image and formula one would help us do that.”

F1 chief executive Ecclestone insists there is no deal yet.

“We haven’t got a contract yet for the event,” said the Briton.  “As soon as they get that, yes, yes, we can have a race, then let’s see if we can make it happen.”

Ecclestone said a deal with Rome would not necessarily be bad news for Monza.

“We have two events at the moment in Spain,” he explained.  “Let’s wait and see.  It’s still early days.”

Monza mayor Marco Mariani admitted he is worried.

“Politically speaking, Rome is far stronger than us,” he said.

A director of the Monza circuit has reacted angrily to Friday’s news that Rome will begin hosting a formula one race in 2012 or 2013.

The contract was reportedly signed at the famous Autodromo Nazionale di Monza by Bernie Ecclestone on Friday, guaranteeing at least five street races if an agreement can be found with the authorities of the Italian capital’s EUR district.

“Where once it was difficult to find sponsors, now it will be impossible,” Monza director Enrico Ferrari is quoted by La Stampa newspaper.

“The big companies have a budget, so if today they were giving us 100, tomorrow they will give us 50 and Rome 50,” he said.

Previously, Monza and another Italian venue – Imola – shared an annual presence on the F1 calendar, but Ferrari insists that times have changed.

“Take the example of Spain: Barcelona has been in crisis because of Valencia.

“The old Catalan race lost 9 million euros in 2010. All of Europe is in distress with F1.

“Germany has abandoned having two races and Spa-Francorchamps were 8,000 spectators down compared with last year,” he complained.