British Grand Prix under threat as Silverstone owners trigger break clause

The future of the British Grand Prix is in doubt after The British Racing Drivers’ Club (BRDC), the owners of the Silverstone racing circuit in Northamptonshire, formally triggered the break clause in its contract with Formula 1.

This move means that unless a new contractual arrangement can be reached with new Formula 1 owners Liberty Media, 2019 will be the last year that the British Grand Prix takes place at Silverstone.

Silverstone is the only circuit licensed to run a Grand Prix in Great Britain. The BRDC says that increases in Promoter’s Fees has brought about the move to trigger the break clause.

John Grant, chairman of the British Racing Drivers’ Club, said: “This decision has been taken because it is not financially viable for us to deliver the British Grand Prix under the terms of our current contract. We sustained losses of £2.8m in 2015 and £4.8m in 2016, and we expect to lose a similar amount this year. We have reached the tipping point where we can no longer let our passion for the sport rule our heads. It would not only risk the very future of Silverstone and the BRDC, but also the British motorsport community that depends on us.

“However, I want to be clear that although we have now activated the break clause, we are fully supportive of the changes the Liberty team are making to improve the F1 experience. Our hope is that an agreement can still be reached, so that we can ensure a sustainable and financially viable future for the British Grand Prix at Silverstone for many years to come.”

A spokesperson for Liberty Media said: “The week leading up to the British Grand Prix should be a week of great celebration for F1 and Silverstone.

“We deeply regret Silverstone has chosen instead to use this week to posture and position themselves and invoke a break clause that will take effect in three years’ time.

“Our focus is still to preserve the British Grand Prix. We will carry on negotiating with the promoter in good faith and in private to reach a fair and equitable solution.”