Uncertain future looming for British Grand Prix

RED Bull team principal Christian Horner has accused Silverstone of “serious misjudgement and mismanagement” after the circuit’s owners gave notice of their intent to pull the plug on Formula One.

The British Grand Prix is now in danger of being chalked off the calendar following the decision taken by the British Racing Drivers’ Club (BRDC), which owns the circuit.

The BRDC are hopeful that their move to activate a release clause in its current deal after 2019 will allow them to negotiate a more affordable contract with Formula One’s new American owners Liberty Media.

Silverstone agreed a 17-year contract back in 2010 but they believe the hosting fee, which increases by five per cent each year, is not sustainable.

Yesterday the BRDC announced losses of almost £8 million for staging the race over the past two years despite attracting sell-out crowds. However, Horner, a member of the BRDC, believes their decision could backfire, with F1’s owners not guaranteed to cut them a more financially-viable deal.

“I am amazed they have triggered their break clause,” Horner said. “Silverstone signed a contract in 2010, and they knew what they were entering into at the time.

“They have now realised they can’t afford it despite having a full house every year. They either should not have signed it in the first place or they got their maths wrong.

“Silverstone gets favourable rates anyway. It is hard to imagine they lose money putting 120,000 people in there, plus all the corporate tickets they sell during the course of a grand prix weekend. For me, I would question how it has been managed and the negotiations they had in the first place.”