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Silverstone has secured a new 10-year contract to host the British Grand Prix, ensuring that the Formula 1 race will continue to take place at the circuit.
F1 Sport

Silverstone has secured a new 10-year contract to host the British Grand Prix, ensuring that the Formula 1 race will continue to take place at the circuit.

A new long-term agreement has been announced, securing the future of the British Grand Prix at Silverstone for another ten years.

The contract between Silverstone and Liberty Media, the American owners of F1, was set to expire this summer. While there were concerns in the past, the race at Silverstone, owned by the British Drivers’ Racing Club, was not at risk. However, a recent announcement on Thursday secures the future of this prestigious event until at least 2034.

The agreement is estimated to have a value of approximately £300 million, or £30 million annually. Last year’s Grand Prix drew a record-breaking audience of over 150,000, with nearly 500,000 spectators entering the gates throughout the weekend.

Stefano Domenicali, the president and CEO of F1, expressed his joy in announcing that the British Grand Prix will continue to be a part of the calendar for the next 10 years due to this agreement. Silverstone, a historic and renowned location in F1, has been hosting Grands Prix for almost 90 years and continues to draw fans from all over the globe for its thrilling races on track and unforgettable fan experiences off it.

Stuart Pringle, the chief executive of Silverstone, stated that this extended agreement demonstrates the significance of the British Grand Prix to Formula 1 and recognizes our capability to provide a first-rate experience. The enthusiastic support for the home teams, especially the British drivers on the grid, creates a one-of-a-kind atmosphere at Silverstone.

The F1 calendar has consistently included the British Grand Prix for over 70 years, as Silverstone hosted the first world championship race. While there have been discussions about a potential London street race, various obstacles have prevented any significant developments. Liberty has faced backlash for moving the sport away from its traditional base in Europe. However, their recent announcement of a new race in Madrid for 2026 shows their continued support for Silverstone.

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The new F1 season starts in Bahrain on 2 March, with Silverstone hosting the British GP on 7 July.

Source: theguardian.com