Though insisting that the British Grand Prix is safe at Silverstone, F1 boss admits deal will not be renegotiated.

As John Grant advised members of the British Racing Drivers' Club before Christmas, the "potentially ruinous risk" of continuing to host Britain's round of the world championship meant that the club would need to seriously consider the option of triggering an opt-out clause in its contract, which would mean it would only need to host the race for three more years.

Despite being allowed to pay its fee a year in arrears, getting a slice of the hospitality income from the GP weekend and only facing a 5% increase in its annual fee - compared to the 10% other circuits face - Silverstone finally came to realise that by 2027 it would be paying around £26m.

A "potentially ruinous risk" indeed, when one considers that the circuit is already running at a loss.

Despite the playing down of the threat to the event's future and despite the subsequent positive comments from Grant, BRDC president Derek Warwick and new F1 boss Chase Carey, comments made by the American at the weekend suggest the future is far from settled.

"We are not going to renegotiate with Silverstone, but we will work with them to be good partners," he told the Mail on Sunday.

In other words, the current deal remains in place, no surprise really when one considers that a special arrangement for Silverstone would have other circuit bosses knocking on Carey's door.

Carey believes that the solution to Silverstone's woes is to get more people through the door, by means of better promotion and even added attractions like concerts, a move that paid off for the Circuit of the Americas last year when Taylor Swift (right) played to a packed house on Saturday evening.

"With Silverstone, we want to help them promote the race," said Carey. "When there is an NFL game in London, the shops in Regent Street are full of it. We want to do that sort of thing with the British Grand Prix and also make the event broader, with the race at the centre of a full weekend show."

A factor that works against Silverstone is the fact that it is essentially in the middle of the countryside and - other than its numerous campsites - doesn't haven't the infrastructure for the sort of crowds needed to make the event pay, be it the Grand Prix far less a major concert over the same weekend.

"The British Grand Prix is an important race in the calendar," insists Carey. "Although we want to stage new races in 'destination' cities such as London, New York, Miami and Los Angeles, we recognise the European foundations of the sport and want to continue that tradition."

LATEST NEWS

more news >

LATEST IMAGES

galleries >

Click to go to the main galleries section

READERS COMMENTS

1. Posted by NS Biker, 02/02/2017 3:46

"BE has left a legacy that Mr. Carey is going to have to live with.
Given that the new owners paid a ton of money for F1, they are going to fight and fight hard to get what they "need" out of it. Manor appears to have been the first to get the heave-ho.
For those that see the US as the future of the sport, think back to the F1 history in the US. Watkins Glen is an awesome track, just not up to current standards, too long and too far away from enough people to pay what is needed. Races at the Indianapolis circuit ... likely as good as it gets apart from COTA. How about in a parking lot in Vegas ... been done before.??
Yes there are a lot of people in the US, but 99% of them have no idea what F1 is about nor are they willing to pony up the $$$ to watch it. The possible savior is digital media and broadcast revenues, but for the very reasons that BE has fought this one .... once the feed gets out, it will be free(d) to millions.
I for one am not too optimistic, but then I expect the worst, just to avoid disappointment."

Rating: Neutral (0) Rate comment: Positive | NegativeReport this comment

2. Posted by TokyoAussie, 01/02/2017 3:53

"I don't expect to see any change in Silverstone's situation, or that of any circuit for that matter, until some key raceholders start negotiating as a group. While they negotiated individually, Bernie (and now his successors) was always able and willing to lose a key event. But I doubt he would have been willing to lose all, say, European events en-masse. Alas, Bernie was a master at playing everyone off against everyone else. Divide and conquer.

But promoters negotiating as a group will almost certainly never happen..."

Rating: Neutral (0) Rate comment: Positive | NegativeReport this comment

3. Posted by Spindoctor, 31/01/2017 15:45

"Silverstone - just tell Mr Carey to "do one""

Rating: Neutral (0) Rate comment: Positive | NegativeReport this comment

4. Posted by Ro, 31/01/2017 9:25

"Yeah, sure....get rid of all the Europen races and have all of them in the USA.....typical yank attitude..."we are the best at everything". Se how long F1 lasts then.
"

Rating: Neutral (0) Rate comment: Positive | NegativeReport this comment

5. Posted by Usedtobe, 30/01/2017 13:40

"Blame it on Bernie."

Rating: Negative (-1) Rate comment: Positive | NegativeReport this comment

6. Posted by JogonUK, 30/01/2017 12:50

"I thought there was already a 'special arrangement' in place for Silverstone? but in any case, if there was ever a clue as to the coming americanisation of F1 it's right there in the last quoted comment from Carey, out of the 4 'destination' cities quoted 3 of them are in the US? "

Rating: Neutral (0) Rate comment: Positive | NegativeReport this comment

7. Posted by Motorsport-fan, 30/01/2017 12:31

"So thats back to square one then, no Silverstone GP after 2019?"

Rating: Neutral (0) Rate comment: Positive | NegativeReport this comment

Carey will not renegotiate Silverstone deal

LATEST NEWS

RELATED ARTICLES

LATEST IMAGES

POST A COMMENT

Post your comment

READERS COMMENTS

Share this page