Silverstone must remain in Formula One

2014 Formula One British Grand Prix, Silverstone International Race Circuit, Towcester, Northampton, Great Britain, 3rd – 5th July 2014.
Flags, Atmosphere,
World Copyright: © Andrew Hone Photographer 2014.
Ref: _ONY9209

Save Silverstone, this must be Liberty’s first target. The British Grand Prix is one of the most historic races in Formula One. Silverstone was an aerodrome during the Second World War, when the war ended in 1945, the Royal Automobile Club decided to make Silverstone the base for the British Grand Prix in 1948.

Two years later, Silverstone hosted the first official Formula 1 race, in history, Guiseppe Farina was the winner with his Alfa Romeo.

The British Grand Prix is now in danger, the reason is simple: money. In our days it is very expensive to host a Formula 1 race. A 17 year contract, between FIA and Silverstone, was signed almost eight years ago, but the extremely high cost does not allow the owners to keep their deal.

In 2010 the cost for hosting a Grand Prix was £12m, this year the price increased to £16m and by 2026 the cost will be more than £25m.

“We have reached the tipping point where we can no longer let our passion for the sport rule our heads, put simply, it is no longer financially viable for us to deliver the British Grand Prix under the terms of our current contract.” said BRDC chairman John Grant.

According to British Racing Drivers’ Club chairman, in 2015 they suffered losses equal to £2.8m, almost £5m the following year, and they are expecting the same losses for this year.

“We have reached the tipping point where we can no longer let our passion for the sport rule our heads. It would not only risk the very future of Silverstone and the BRDC, but also the British motorsport community that depends on us.” said John Grant.

The owners gave a two years termination notice, which means that the final race will be held in 2019, there is only one away to avoid Silverstone’s departure, Liberty Media has to offer an affordable contract to the owners and the two sides must agree and extend the British Grand Prix under new rules and less costs.

“I want to be clear that although we have now activated the break clause, we are fully supportive of the changes the Liberty team are making to improve the F1 experience. Our hope is that an agreement can still be reached, so that we can ensure a sustainable and financially viable future for the British Grand Prix at Silverstone for many years to come.” said Grant.

Liberty Media is in talks with Silverstone in order to find a solution and solve the problem between them, F1’s commercial boss, Sean Bratches said on Sky that the “break clause would not represent a black mark for the Northamptonshire circuit.”

Hopefully, the two sides will manage to find a solution and save Silverstone. It is one of the most fantastic circuits on the calendar and Silverstone is the track which must keep hosting the British Grand Prix.

Twitter – @FP_Passion

 

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