Silverstone pulls pin on hosting F1

The future of the British F1 GP at Silverstone is under a cloud after the track's owners triggered a break clause in its contract.

The future of the British Grand Prix at Silverstone is under threat after the circuit's owners triggered a break clause in its contract.

The British Racing Drivers' Club says the 2019 British Grand Prix will be the last at Silverstone unless F1 owner Liberty reduces the race fee.

The BRDC says in 2015 it lost STG2.8 million ($A4.7 million) and STG4.8 million ($A8.1 million) in 2016.

The annual fee for the race has increased from STG11.5 million ($A19.4 million) in 2015 to STG16.2 million ($A27.4 million) this year.

The race organisers say the fee will have leapt to STG25 million ($A42 million) by 2026 - the last year of the current contract.

The BRDC says "it is no longer financially viable ... under the current terms."


Share

1 min read

Published

Source: AAP



Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world