British GP’s future ‘in doubt’

THE owners of Silverstone circuit have questioned the long-term future of the British Formula One Grand Prix because of the “potentially ruinous risk” posed by hosting fees.

Local media reported that the British Racing Drivers’ Club (BRDC) had informed all members in a letter it was giving serious thought to exercising a break clause.

“The board is considering whether we should give notice before the 2017 British GP (as required) of our intention to exercise the break clause in the contract at the end of 2019,” wrote BRDC chairman John Grant.

“This is not a simple decision and we shall consider all the implications before coming to a conclusion by mid-year.”

Silverstone, which hosted the first Formula One championship race in 1950, has a contract to 2026 with a break clause on both sides.

Grant’s letter said the board hoped to preserve the race at the circuit for years to come, providing it made commercial sense. “We have to protect our club against the potentially ruinous risk of a couple of bad years,” it read.

Last year’s race drew about 139 000 fans, boosted by triple world champion Lewis Hamilton and McLaren’s now-departed Jenson Button. Most of the 11 teams are based in Britain, including Hamilton’s Mercedes.

Formula One’s 86-yearold commercial supremo Bernie Ecclestone told TV station ITV that Silverstone were free to activate the break clause.

“Two other tracks have contacted us and we are keen to keep a British Grand Prix; there is no doubt about it .... As far as Silverstone is concerned, it’s not in our hands.”

The BBC said Silverstone would have to pay about $21.08-million (R296-million) in hosting fees this year, rising to $26-million (R353-million) by the end of the contract. — Reuters