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

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
5 Mar
Back to the future for Historic Racing - https://t.co/5SQDT4snzM https://t.co/RYN7pvnaPZ
RACE TECH magazine @RaceTechmag
4 Mar
Don't miss out on #EngineeringDay with an exclusive subscription offer from the World's leading Motorsport engineer… https://t.co/R55bpHglMC
RACE TECH magazine @RaceTechmag
24 Feb
Ferrari to join WEC with Hypercar from 2023 - https://t.co/M90lqPPJIX https://t.co/TV5GLr8v7x
RACE TECH magazine @RaceTechmag
22 Feb
Aerodynamic testing tunnel to launch this summer - https://t.co/MDMwecDxVr https://t.co/JvfUmfzR1j
RACE TECH magazine @RaceTechmag
16 Feb
Red Bull Racing launches powertrain company - https://t.co/MkgaHReggJ https://t.co/xVslHjGVfy
RACE TECH magazine @RaceTechmag
11 Feb
Formula 1 halts development of Power Units from 2022 - https://t.co/5ZznO4l7pl https://t.co/7vQTts7F4Y
RACE TECH magazine @RaceTechmag
10 Feb
In the March issue out now we look at BUTTON vs HAMILTON: The off-road passion that led from Lydden Hill to taking… https://t.co/UGK7U7GnMb
RACE TECH magazine @RaceTechmag
10 Feb
The new #LeMans #Hypercar regulations suffered a painful gestation period but could cars like GAZOO Racing’s GR010… https://t.co/74Tb0nqVg8