About v2British GP Under Threat?
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British GP Under Threat?
by dyrewolfe Mon 09 Jan 2017, 9:49 am
The British Racing Drivers Club (owners of Silverstone) have announced they are considering exercising a contract-break clause in 2019...their existing contract runs until 2026.
This is being seen as a move to force a re-negotiation of terms, which include an annual 5% increase in the cost of hosting the race, which was £12 million in 2010, but will rise to around £25 million by the end of the contract. As circuit costs go, Silverstone's are among the lowest, but on the other hand it is one of the few that receives no government subsidy.
The BRDC has revealed that they are already making a loss and presumably can't afford for this to continue. Perhaps they are putting faith in new owner Liberty Media's desire to retain the older European races and feel they will be able to negotiate better terms.
http://www.bbc.co.uk/sport/formula1/38526002
This is being seen as a move to force a re-negotiation of terms, which include an annual 5% increase in the cost of hosting the race, which was £12 million in 2010, but will rise to around £25 million by the end of the contract. As circuit costs go, Silverstone's are among the lowest, but on the other hand it is one of the few that receives no government subsidy.
The BRDC has revealed that they are already making a loss and presumably can't afford for this to continue. Perhaps they are putting faith in new owner Liberty Media's desire to retain the older European races and feel they will be able to negotiate better terms.
http://www.bbc.co.uk/sport/formula1/38526002
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