F1’s new own­ers save Bri­tish GP at Sil­ver­stone

Lib­erty Me­dia won’t cut race fees, but will sup­port ef­forts to make the event more prof­itable for the track’s own­ers, the BRDC

F1 Racing - - INSIDER -

For­mula 1 boss Chase Carey has guar­an­teed the fu­ture of the Bri­tish GP. Lib­erty Me­dia, who com­pleted their deal to buy F1 in Jan­uary, want to pro­tect his­toric Euro­pean races, which Carey de­scribed as “the foun­da­tion of the sport”.

Sil­ver­stone’s own­ers, the Bri­tish Rac­ing Driv­ers’ Club, were con­sid­er­ing ex­er­cis­ing a break clause in their con­tract af­ter 2019 be­cause they said they couldn’t af­ford the con­tract they had struck with former F1 boss Bernie Ec­cle­stone in 2009. That con­tract has an es­ca­la­tor clause that in­creases its cost by ve per cent each year.

Carey said: “We are go­ing to have a Bri­tish GP. I have made it very clear that the foun­da­tion of the sport is west­ern Europe. There are op­por­tu­ni­ties to make it much bet­ter than it is to­day.”

Carey said he would en­able race or­gan­is­ers to raise more money, but would not re­duce fees. “I don’t think we will make them more af­ford­able,” he said. “We will make them more suc­cess­ful.”

BRDC pres­i­dent Derek War­wick said: “We know where we’re go­ing now with Lib­erty, we know where we’re go­ing with Sil­ver­stone. We are pos­i­tive we can work this grand prix and make a profit in 2017. What he [Carey] is say­ing to us is he might re­lax cer­tain re­stric­tions that Bernie [Ec­cle­stone] has had on us over the last few years in terms of mer­chan­dis­ing, mar­ket­ing, spon­sor­ship, etc. Some cir­cuits out there have more flex­i­bil­ity with their con­tract with Bernie than what we have.”

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