Government in talks with Silverstone over British Grand Prix future

13 January 2017 02:38

Silverstone is in talks with the government about saving the British Grand Prix according to British Racing Drivers' Club president Derek Warwick.

The future of the historic sporting event - a permanent fixture on the Formula One calendar since its inception in 1950 - was recently thrown into doubt after the BRDC, owners of the Northamptonshire circuit, suggested they may activate a break clause to cease grand prix racing there beyond 2019.

Silverstone agreed a 17-year deal to stage the British Grand Prix from 2010, but are struggling to afford the race fee paid to Formula One Management Group, of which Bernie Ecclestone is the chief executive.

Unlike several other circuits on the Formula One calendar, Silverstone receives no government backing.

But Warwick believes the government, Formula One's new American owners Liberty Media, or indeed Ecclestone, 86, could be prepared to broker a deal to safeguard the British Grand Prix.

"It is not widely known, but we are talking to the government to see if there is any help there," Warwick said at the Autosport International Show in Birmingham on Friday.

"We have had meetings with Liberty and (Formula One chairman) Chase Carey. He understands our dilemma.

"Even Bernie is calling us and saying 'let's set up a meeting and talk about it.'

"I feel there is light at the end of the tunnel, and I think we will have a grand prix past 2019."

Triple world champion Lewis Hamilton's success has attracted record crowds at Silverstone in recent years.

But the demands of the hosting fee, which goes up by five per cent every year - from £12million in 2010, to £17m this year and £26m in 2026 - has placed a heavy burden on the circuit's owners.

Damon Hill, the 1996 world champion and former BRDC president last week called on the government to step in.

Speaking to Press Association Sport, Hill said: "This is a much-loved national event but, for whatever reason, it has always been very difficult to get additional funding from government.

"Maybe now is the time to look at the British Grand Prix in the context of what is happening elsewhere and realise that it is an extremely good shop window for waving our banner and pointing to our brilliance in this field.

"When you think about post-Brexit Britain, you must wonder if this is exactly the type of thing we need to invest in to show off what we can do."

Source: PA