BRITISH GRAND PRIX LIKELY TO BE POSTPONED
SILVERSTONE is scheduled to host the British Grand Prix from July 17-19. The track is owned by the British Racing Drivers’ Club, a group of 850 motor sport personalities including Sir Jackie Stewart, Nigel Mansell and Lewis Hamilton. They will pay £18.7m to F1 owners Liberty Media to hold the race. Last year 351,000 fans watched three days of racing at Silverstone, the highest attendance at any of the 21 Grands Prix. A total of 141,000 fans were at the race on the Sunday. General admission this year for three days is £195 but fans can pay more than £580 for exclusive tickets.
BROADCASTING FEES
The current TV contract stipulates that there must be a minimum 15 races to guarantee full payment of fees. If there are fewer the amount is calculated on a sliding scale.
WHY VENUES ARE POSTPONING RATHER THAN CANCELLING RACES
If a race promoter cancels an event they still pay their fee to F1. If Liberty Media call it off, then they lose the money.
THE CALENDAR
Teams have waived their normal consultation rights over the calendar to allow F1 to sort out the season as necessary.
PAYMENTS TO TEAMS
Teams are paid by F1 based on the governing body’s income.
WILL WE HAVE A TITLE WINNER?
Will there be a rightful world champion in a curtailed season? Juan Manuel Fangio was champion in 1957 in an eight-race season, so eight races would be sufficient to have a champion.