Silverstone triggers break clause with F1

In difficulty in recent years and despite record attendance at the last Grand Prix, the promoters of the British Grand Prix, namely the British Racing Drivers' Club (BRDC), are suffering significant financial losses of around 7,6, 8,5 million pounds over the last two years, or nearly XNUMX million euros.

« It is with immense regret that I announce today that BRDC, owner of the Silverstone circuit, has triggered the termination clause in its contract with the Formula 1, now owned by Liberty Media, announces John Grant, president of the BRDC. This means that, unless a new contractual arrangement is reached with Liberty Media, 2019 will be the final year of the British Grand Prix at Silverstone – the only circuit capable of hosting the GP. »

Today, the Silverstone circuit is the only one approved to be able to host Formula 1 in Great Britain, unlike Brands Hatch or Donington Park, thanks in particular to ten years of investment by the BRDC to modernize the infrastructure. But with taxes increasing every year, it became impossible for the club to continue under these conditions. Negotiations are underway with Liberty Media to ensure the financial viability of a new long-term agreement.

 « This decision was taken as it is no longer financially viable for us to host the British Grand Prix under the current contract conditions, adds Grant.

“We have reached the point where we can no longer let our passion for sport take over our common sense. This would not only jeopardize the near future of Silverstone and the BRDC, but also that of all British motorsport which depends on us. »

Silverstone hosted the very first F1 World Championship race in 1950 and has been the permanent host of the British Grand Prix since 1987.