Silverstone Extends Its British Grand Prix Contract

The British Racing Drivers Club, the owners of the iconic Silverstone motor racing circuit, has this afternoon ended two years of speculation about the future of the British Grand Prix at the Northamptonshire venue by announcing a new deal with Liberty Media, the owners of Formula 1.

The BRDC had felt the need in 2017 to exercise a break clause in its previous contract due to financial concerns over the implications of the ever-rising hosting costs and the potential threat posed by a possible future London Grand Prix, meaning that 2019 would be the last F1 race they held. However, just two days before the start of this year’s British Grand Prix event, the fears of so many British fans have been allayed.

The new deal, announced by Liberty Media Chairman and Chief Executive Officer Chase Carey, the BRDC’s Managing Director Stuart Pringle and its Chairman John Grant, will keep the British Grand Prix at Silverstone for the next five years.

Liberty’s Carey commented “We are really pleased to confirm that the British Grand Prix will stay on the FIA Formula 1 world championship for at least the next five years, with the event remaining at its longstanding home, Silverstone”, before adding “Today Formula 1 is a global sport, held on five continents, watched by an audience of over 500 million fans around the world and our aim is to grow this number by bringing the sport we love to new countries, whilst also maintaining its roots: Silverstone and the British Grand Prix are an integral part of that vision.”

Silverstone’s delighted Pringle enthused “The British Grand Prix at Silverstone is rightly recognised as one of the highlights of both the F1 championship and the annual British sporting calendar. This is thanks to our track being one of the greatest drivers’ circuits in the world, but also the enormous passion for motor racing that exists in the loyal and knowledgeable fans that we have in this country.”

Last year the British Grand Prix recorded the highest weekend and race day attendance figures of all 21 races - 340,000 and 140,500 respectively - and it very much looks like this pattern may well continue in 2019 too.