F1 | The Silverstone GP is at risk: contract terminated early

The owners of the English circuit took advantage of the exit clause from the contract which should have lasted until 2026; disappointment on the part of F1 Group.

After 2019 it is very likely that the world championship will no longer be seen formula 1 in the circuit of Silverstone. It seems that the origins of the decision to terminate the contract between the owners of the circuit and the company early F1 Group there are financial reasons.

“It is with great regret that I find myself communicating that the British Racing Drivers' Club, owner of the Silverstone circuit, has availed itself of the breach clause of the contract with Formula 1, now managed by Liberty Media”, the president declared John Grant.

The reasons, as mentioned above, are economic: “We suffered a loss of $2,8 million in 2015 and $4,8 million in 2016 and expect the same loss this year. At this point, we can no longer allow our passion to guide us. This would be a risk not only for the Silverstone circuit and the British Racing Drivers' Club, but also for British motor sport which depends on us.".

However, Grant still doesn't want to lose hope of being able to renew his contract, assuming that Liberty Medium, decide to lower costs:

“Although we have activated the clause, we are confident in the commitment that Liberty Media is making to improve the Formula 1 experience. Our hope is that an agreement can be reached after 2019 to guarantee a future for the Silverstone circuit”.

Liberty Medium he didn't take the hasty decision on the part of the well at all BRDC:

“The week leading up to the Silverstone GP should be a celebration, but instead we are disappointed by Silverstone's decision, which wanted to exercise the exit clause from the contract. We offered him to extend the deadlines to focus on the British GP and Silverstone, but unfortunately the circuit managers tried to take short-term advantage to benefit from their position. We want to keep the British GP on the calendar and will continue to negotiate with the promoters to arrive at a fair solution."

Jessica Cortellazzi