Silverstone Has Ended Its Contract To Host The British Grand Prix

Silverstone, the home of British Formula 1, has terminated its contract to run the British Grand Prix - after 2019.

The English circuit’s owners have activated a break clause in the contract with F1, claiming that the fees are too high to be sustainable. Currently, the circuit pays an extra five per cent per year to host the race after first forking out £12m in 2010.

With the compound ‘escalator’ built into the contract, this year’s bill just for the right to host the race will be an eye-watering £16,885,205.07. The 2019 event will cost over £19m. No wonder tickets are so damn expensive.

It’s thought that Silverstone wants to renegotiate its contract with the sport’s new leaders, after Bernie “Moneybags” Ecclestone’s departure from the hot seat at the top of F1. The sport is under no obligation to retain a grand prix at Silverstone, though, with options at other UK circuits and even a new, as-yet-unplanned street circuit in the east of London.

With the best part of two years to make a new deal, though, it’s likely that the British GP will stay at the Northamptonshire circuit beyond 2019, under more sustainable terms. If it wasn’t to stay at Silverstone, though, where would you put it?