Silverstone Breaks Hosting Contract With Formula One

Laura Christensen
July 13, 2017

Also of some irony is that the British Racing Drivers' Club (BRDC) has just chosen to trigger a break clause in its contract with Formula One, which should see Silverstone stop hosting the British Grand prix after the 2019 race. This is a circuit that has hosted F1 races since the F1 series began in the 50s, alternating initially with Aintree, then Brands Hatch, before taking over full hosting duties from 1987.

"The week leading up to the British Grand Prix, should be a week of great celebration for F1 and Silverstone", said a Liberty Media statement sent to CNN.

The BRDC says "it is no longer financially viable. under the current terms". Grant, who remains hopeful of persuading F1's commercial rights holders to change heart, lamented the impasse that has thrown the British Grand Prix's future into fresh danger. The circuit is also the UK's only circuit now accredited to host a Formula One race.

In other words, Grant hopes it can strike a new deal with F1's new owners, one that would be more profitable for Silverstone than in the past, especially in the wake of the financially disastrous Brexit.

The future of the sport in Britain is uncertain after Silverstone bosses triggered a break clause in their contract.

"I'm aware of the rumours over a London street race but Silverstone is by far the better option".

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Valtteri Bottas, Max Verstappen and many more race around London as we prepare for the 2017 British GP, live on Sky Sports.

"But we have reached the tipping point".

"We sustained losses of £2.8million in 2015 and £4.8m in 2016 and we expect to lose a similar amount this year". They've already added the German and French grands prix back to the calendar for 2018, so renegotiating with Silverstone doesn't seem out of the question. We need to figure out a way for them to make more money, so either we need to create new revenue streams or re-cut the deal. "There are some hurdles we'll have to overcome, but there's no reason at all why it can be beyond the wit of us to organise an F1 race in London in the future".

Hamilton had been expected to lead the billing in front of his home crowd as F1 takes over the capital for a demonstration run in the build-up to Sunday's British Grand Prix.

"They have created a paddock with zero atmosphere at one of the most historic race tracks in the United Kingdom, so there has been some serious misjudgement and mismanagement".

However, Silverstone is now the only track in Great Britain that meets F1's Grade 1 standards.

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