The British GP extends its lease until 2024

The renewal of the contract between the FOM and the Northamptonshire circuit had been circulating for several months. It was made official this Wednesday during a press conference organized at Silverstone in the presence of Chase Carey, CEO of the Formula One Group, Stuart Pringle, Managing Director of Silverstone and John Grant, President of the BRDC (British Racing Drivers' Club). , owner of the track which hosted the very first GP in history on May 13, 1950. The new deal extends over five seasons and therefore runs until 2024. 

Silverstone initially had an agreement which lasted until 2026 but the bosses of the British circuit decided in 2017 to activate a post-2019 exit clause on the grounds that they did not have the means to honor the requested fees. by the FOM, which provided for an annual increase of 5% according to terms drawn up under the supervision of the former chief financier of the F1, Bernie Ecclestone. 

Since its arrival at the helm in early 2017, Liberty Media has expressed its desire to ensure the future of Silverstone by virtue of its historic nature. The negotiations took a long time to come to fruition and experienced several twists and turns, the latest reporting possible direct competition with a hypothetical London Grand Prix, a sea serpent that has been undulating in the paddock for years. 

The five-time world champion Lewis Hamilton recently declared on the microphone of Sky Sports that he would fight tirelessly to preserve Silverstone, affirming that the circuit would remain on the calendar “ as long as I'm in F1 ». 

London calling

« Silverstone is where it all began in 1950 and we are very happy to continue building the identity of F1 around historic circuits like this, said Carey. We have always said that we must protect iconic events and the United Kingdom truly represents the birthplace of our sport ». 

Asked about the prospect of having a race in London in the near future, the CEO of the F1 group acknowledged interest from the British capital as well as the existence of discussions with the parties concerned. Grant, for his part, claimed that Silverstone received guarantees from the FOM to preserve its heritage and ensure that such a city round would not represent “ a commercial threat » for the British temple of motorsports.

« A lot of effort and creativity was necessary to find a new agreement and we are satisfied with the result obtained, explained the president of the BRDC. We will be sold out again this weekend with record attendance expected. These five additional years will allow us to continue our investments around the British GP, which will be around 100 million pounds sterling. (around 112 million euros, Editor’s note) finally ». 

The renewal of Silverstone and the British Grand Prix on the calendar leaves Barcelona, ​​Hockenheim, and Mexico without a deal beyond the current season for the moment. Officially, Monza does not have a contract for 2020 either but the theater of the Italian GP has a pre-agreement with the FOM to extend until 2024. Like its British alter ego in short.