Silverstone future in doubt after owners trigger break clause

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“This situation is not sustainable – for the BRDC, but also for the British Grand Prix and Silverstone. We cannot continue to sell our core assets in order to fund the Grand Prix. Put simply, we’ve run out of road and have been left with no option but to trigger the break clause.

“However, I want to be clear that although we have now activated the break clause, we are fully supportive of the changes the Liberty Media team are making to improve the F1 experience.

“Our hope is that an agreement can still be reached, so that we can ensure a sustainable and financially viable future for the British Grand Prix at Silverstone for many years to come.’’

Liberty Media, the American conglomerate which took over the sport in January, has already staged a series of talks with both the BRDC and Silverstone. They will not want to lose an event which has been an ever present on the calendar since the world championship began in 1950.

But F1’s new owners also chose to take aim at the timing of Silverstone’s announcement with this year’s race just five days away.

“The week leading up to the British Grand Prix should be a week of great celebration for F1 and Silverstone,” a Formula One spokesperson said.

“We deeply regret that Silverstone has chosen instead to use this week to posture and position themselves and invoke a break clause that will take effect in three years’ time.

“We offered to extend the current deadlines in order to focus on everything that is great about Silverstone and Formula One. Regretfully the Silverstone management has chosen to look for a short-term advantage to benefit their position.”