F1 reveal long-term plans for Silverstone ahead of British Grand Prix

Ruben Hill
July 11, 2019

The announcement was made in the F1 paddock ahead of this weekend's race, and Silverstone managing director Stuart Pringle says losing the grand prix would have been a major blow for the sport.

Mr Carey said: "Clearly we're thrilled to have this in place, Silverstone is one of the signature races on our calendar and truly a special event".

Formula One has confirmed the British Grand Prix will remain at Silverstone until 2024, ending two years of speculation about the future of the race.

But the three parties have now agreed a deal which Mr Grant described as one they are "comfortable with".

Silverstone's former deal, agreed with former F1 supremo Bernie Ecclestone, included a five per cent annual increase, taking the hosting fee to £26m by 2026.

The 2018 British GP, then badged as potentially the penultimate F1 race at Silverstone, was an entertaining race. "I think it looked a lot better than [it would have done] if we didn't have the issues that we had - we would have been a lot closer, would have been more of a fight". Our aim is to grow this number by bringing the sport we love to new countries, while also maintaining its roots.

"We are really pleased to confirm that the British Grand Prix will stay on the FIA Formula 1 World Championship calendar for at least the next five years, with the event remaining at its longstanding home, Silverstone circuit", Carey said.

A recent sticking point has been the idea of having a race in London, which was described as a direct competitor of the event at Silverstone by the BRDC.

Lewis Hamilton criticised the decision to schedule the British Grand Prix on the same day as the finals of the Cricket World Cup and men's singles at Wimbledon.

He said: "It was a good surprise to hear they'd re-signed".

Hamilton will be bidding for his sixth win at the British Grand Prix this weekend.

It also saves Silverstone in time for next year's big anniversary - 2020 will mark 70 years since the very first round of the very first F1 world championship, held, of course, at Silverstone.

Other reports by Click Lancashire

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