Silverstone pleads poverty

As the British Grand Prix weekend arrived, everyone in the F1 circus seemed a little bit grumpy, not least the track’s owners, the BRDC ( British Racing Drivers’ Club).

The club has long complained about the costs involved in staging the annual round of the Formula 1 championship, but things came to a head in the days leading up to this year’s British Grand Prix race weekend.

The BRDC has executed an opt- out clause in its contract to host the race, meaning that unless extra funding can be found, the British Grand Prix won’t return to Silverstone after the 2019 season.

The circuit owners claim that, even when race weekend sells out, the event still loses money.

“Wehave reached tipping point,” BRDC chairman John Grant told reporters.

“Wecan no longer let our passion for the sport rule our heads.

“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.”

The contract the BRDC signed back in 2010 came with a 5 per cent cost increase built in each year, so there are no surprises that costs to host the event have risen.

Previous F1 impresario Bernie Ecclestone was unsympathetic about such matters, and the BRDC has this week discovered the sport’s new owner, Liberty Media, is similarly unimpressed with their cry of poverty.

Formula 1 chairman Chase Carey issued a cold rebuke to the BRDC announcement, stating: “The week leading up to the British Grand Prix should be a week of great celebration for F1 and Silverstone.

“Wedeeply 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.” Ouch.

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