FREE NEWSLETTER

The British Grand Prix 69 year reign at Silverstone expected to end by 2019

11 July 2017

The British Racing Drivers Club (BRDC), owner of Silverstone, is expected to try and terminate its contract with Formula 1 today, ending the British Grand Prix 69 year reign at the track.

It is understood the BRDC will try and activate a break clause in its contract to stop hosting the British Grand Prix at Silverstone by 2019 due to Formula 1’s rising fees. The track claims to have lost £3 million in 2015 and £5 million last year. The BRDC pays F1 £17 million to stage the race and the cost will rise to £27 million by 2026 when the contract ends.

New owners of F1, Liberty Media said in a statement: “Our focus is to preserve the British Grand Prix. We will carry on negotiating with the promoter in good faith and in private to reach a fair and equitable solution.”

The British Grand Prix could become a street race in the Docklands and Canary Wharf, according to a report in The Times, with the chairman and chief executive of Formula One, Chase Carey, expressing his desire for more street races, including London. However, it is thought London Mayor Sadiq Khan would likely oppose it due to pollution and said not approach had been made.

Former Formula One boss Bernie Ecclestone, who negotiated the deal with the BRDC in the first place, claims that it was one of the most generous deals in F1 and ‘almost every other race in Europe would happily swap for the Silverstone deal’.

The first British Grand was first held at Silverstone in 1948, two years before the World Championship of Drivers was introduced.

The 2017 British Grand Prix will be held this weekend at Silverstone, which is expected to attract 140,000 spectators.

Partners

SADEV
AVL
Bosch logo

Latest issue

FREE Newsletter

Stay up to date and a chance to win 1 Years Subscription*

  • This field is for validation purposes and should be left unchanged.

Latest Tweets

Stay up to date with our social world

RACE TECH magazine @RaceTechmag
21 Nov
SAVE 40% this #BLACKFRIDAY - Get a subscription from only £54! https://t.co/xtVw6t4RUU #BlackFridayDealshttps://t.co/KuADFIgaNI
RACE TECH magazine @RaceTechmag
20 Nov
WRC Hyundai driver launches EV rally car #electriccars #hyundai #rally #WRC #racing #rallying @HaydenPaddonhttps://t.co/md9NouGsre
RACE TECH magazine @RaceTechmag
20 Nov
SAVE 40% this #BLACKFRIDAY - Get a subscription from only £54! https://t.co/xtVw6t4RUU #BlackFridayDealshttps://t.co/4wwcKFD8Lj
RACE TECH magazine @RaceTechmag
19 Nov
This #BLACKFRIDAY make sure you take advantage of getting 40% OFF the world's leading motorsport engineering and… https://t.co/QClUkqpBZz
RACE TECH magazine @RaceTechmag
19 Nov
Love #motorsport #Engineering ?then look no further. RACE TECH is the world's leading motorsport engineering and… https://t.co/oH0ZpDIZzj
RACE TECH magazine @RaceTechmag
13 Nov
Don't miss out on get your 40% discount on a RACE TECH print subscription today. Now from only £54!… https://t.co/3p1KxIFVno
RACE TECH magazine @RaceTechmag
13 Nov
This month's #GreenTech topic - Where better for @BcompLtd and @PorscheRaces to put natural fibre bodywork to the t… https://t.co/YVhtG6CRYw
RACE TECH magazine @RaceTechmag
10 Nov
Formula 1 announces 2021 provisional calendar #F1 https://t.co/6MdLbuah60 https://t.co/WuRJ5iUW6k