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F1's new owners could save British Grand Prix

BRDC chairman John Grant is hopeful that Formula One's new owners Liberty Media could help save the British Grand Prix at Silverstone.

The owners of the Silverstone race circuit the British Racing Drivers Club are considering activating their break clause with Formula One.

Silverstone has a contract in place with Formula One until 2026, however both the promoters and Formula One themselves are able to activate a break clause over the coming months.

If that were to be triggered, the final British Grand Prix at Silverstone would take place in 2019.

The reason behind the consideration is said to be the high hosting fees that the promoters have to pay Formula One to host the race.

The fees are so high that despite running a very successful event, the financial risks are still too great to commit towards.

'A few things are going in our favour,' Grant told motorsport.com's sister publication Autosport.

'The impending change of F1 ownership should be helpful medium-term.

'Liberty seems genuinely sympathetic to our point of view. We need a re-balancing of the economic equation. We're exploring lots of ways and talking to a number of parties.'


On the possibility of activating the break clause he added: 'If we do exercise it we don't see that as the end it would be a basis for further negotiation, We would not see it as irrevocable.'








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The Journalist

Writer: Red5 Mail feedback, articles or suggestions

Date:Thursday January 12 2017

Time: 12:00PM

 

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