Formula One is gearing up for the British Grand Prix at Silverstone, the midpoint of the 2017 season, but circuit organisers are looking beyond this year and are having doubts about the future of the event. Chairman of the BRDC who own Silverstone, have revealed huge losses for the past two years, and they’re expecting more loss this year. Chairman John Grant says: “We have reached the tipping point.”
They have activated a break clause in their current contract which allows them to halt hosting of the race following the 2019 season. Grant says: “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.”
F1 bosses at Liberty Media have expressed their regret at the timing of this issue, particularly as the break clause doesn’t come into effect for three more years. But they also add they will continue to negotiate, as they too want Silverstone to remain on the calendar.