Festival & Outdoor

Liberty Media sure to keep British Grand Prix at Silverstone

Liberty Media sure to keep British Grand Prix at Silverstone

The threat to the British Grand Prix at Silverstone is likely to be resolved by new F1 owner Liberty Media, which will complete its takeover deal by the end of March this year, according to BBC Sports writer Andrew Benson.

Silverstone signed a 17-year contract to host the British Grand Prix from 2010, but spiralling costs, a 5 percent annual accelerator on top of the original £12m, more than £26m by 2027, mean the British Racing Drivers Club (BDRC) is considering a break clause.  BRDC Chairman John Grant says a decision will be made by “mid-year”.

‘There is no doubt the British Racing Drivers’ Club mean it when they say they are considering activating a break clause,’ Benson writes on the BBC site. He goes on to detail Liberty Media want to ‘retain and nurture’ the historic European races and expects a compromise deal that ‘revises the terms of the contract and secures the race’s future’ between March and race day 2017.

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Paul Allott is a co-founder of Event Industry News. If you would like to be a contributor to Event Industry News please email editor@eventindustrynews.co.uk

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