Currently reading: Silverstone bosses trigger break clause in British GP contract
British Racing Drivers' Club to end deal to host F1 race after 2019; seeks to negotiate new agreement
Sam Sheehan
News
2 mins read
11 July 2017

Silverstone’s owner, the British Racing Drivers' Club, has triggered a break clause in its contract with Formula 1 bosses to host the British Grand Prix. Unless a new contractual agreement is agreed, the 2019 event will be the last at the Northamptonshire circuit.

The current deal was agreed between the BRDC and Bernie Ecclestone, who then controlled the F1 rights, in 2009. The deal included a 5% annual fee increase, so has risen from £11.5 million in 2010 to £16.2m this year. By 2026, the last year of the agreement, the fee would have risen to £25m.

According to BRDC chairman John Grant, the organisation has lost £7.6m hosting the race over the past two seasons. Grant wants to negotiate a new deal with Liberty Media, which has taken over the rights to F1 this season.

"This decision has been taken because it is not financially viable for us to deliver the British Grand Prix under the terms of our current contract," said Grant. "We sustained losses of £2.8m in 2015 and £4.8m in 2016, and we expect to lose a similar amount this year. We have reached the tipping point where we can no longer let our passion for the sport rule our heads. It would not only risk the very future of Silverstone and the BRDC, but also the British motorsport community that depends on us."

Liberty Media has stated its intention to retain classic races, such as the British, French and German grands prix, which have a long history with the sport and formed a crucial part of its formative years. The French Grand Prix is set to return to the calendar next year for the first time since 2008. It will be hosted at Paul Ricard.

The US company is pushing hard to improve the profile of F1. An F1 Live promotional event will be held in London's Trafalgar Square tomorrow (Wednesday), a plan initiated to build excitement in the run-up to this year's British Grand Prix on 16 July - and which will doubtless revive headlines about a London Grand Prix.

Silverstone hosted the first ever F1 championship grand prix in 1950. Only Monza in Italy and Monaco have hosted more races.

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Comments
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Straff 12 July 2017

F1 Excitement

You're all wrong. F1 is all about the glamour, the crowds, the exciting cars, the noise, atmosphere, the overtaking, the pitstop strategy, the keen competition from the top to the bottom... Wait a minute. No, you're right; it's crap
carrera phwoar 11 July 2017

Why do the BRDC never get it right?

I always love the idea of Silverstone more than the reality. The facilities are mediocre and the new pits are a pain in the a*** to get to from outside the circuit with zero atmosphere or charm (see Christian Horners comments today). It claims to be the home of British Motorsport but there is nothing to see there unless there is a race happening - they even had to get a lottery grant to think about setting up a museum - hardly a 365 destination - but they did build themselves a lovely club house......They always seem to manage to stop anyone genuinely forward looking from doing anything with the place.
Straff 12 July 2017

Mr Horner

carrera phwoar wrote:

I always love the idea of Silverstone more than the reality. The facilities are mediocre and the new pits are a pain in the a*** to get to from outside the circuit with zero atmosphere or charm (see Christian Horners comments today). It claims to be the home of British Motorsport but there is nothing to see there unless there is a race happening - they even had to get a lottery grant to think about setting up a museum - hardly a 365 destination - but they did build themselves a lovely club house......They always seem to manage to stop anyone genuinely forward looking from doing anything with the place.

This, from the man who married Ginger Spice.

racinggreen 11 July 2017

Silverstone, like so many

Silverstone, like so many other circuits, has been 'ruined' by the ever more 'needs' of F1. The vast run off areas, the daft new pits and the changes to the track shape. But, people seem to flock there to see very little if you are standing by the track. I hope Brands Hatch has no plans to alter to try for the GP. I wonder if the so-called London GP would ever get the go ahead, surely the mayor wouldn't want all that pollution ! I still think that Silverstone will have the GP in future.

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