Ross Brawn, Formula 1 Managing Director of Motorsports, “is very optimistic” that a solution can be found between the sport’s owners, Liberty Media and the Silverstone circuit in order to keep the British Grand Prix on the F1 calendar.
Due to a ‘escalator’ clause in the contract signed with former F1 commercial rights holder, Bernie Ecclestone, that saw the hosting fee for the British GP rise year after year, Silverstone opted to invoke its ‘break clause’, in 2017.
Liberty decided that it could not risk renegotiating a current deal, as it feared that other circuits would try and copy Silverstone’s example in reducing race hosting fees.
While it has been made clear by Liberty that it does not wish to lose the British GP, details have been few and far between about the current situation, but speaking on BBC Look East, Brawn shed some light on the current situation.
“I think Silverstone has a really bright future as part of Formula 1,” he said.
“We’ve obviously got the topic of the race coming up, but we’re very optimistic we’ll find the correct solution between ourselves and the circuit for the future.”
Silverstone could survive without the race
A race has been held in Britain in all 71 seasons of the F1 world championships, an accolade shared with Italy, while Silverstone also hosted the very first world championship Grand Prix in 1950.
But despite the history, Brawn was confident that whether the Silverstone would continue to host the race or not, the loss would not adversely affect it.
He said: “There’s a technical centre here, there’s a school here, there’s lot of businesses that are based here.
“It’s great to see Silverstone prosper, it has had some tough times in the past, but I think it is on an upward trajectory.”
In addition to currently hosting a round of the F1 world championship, Silverstone also plays host to the British round of the FIA World Endurance Championship and for MotoGP.
The Northamptonshire circuit will also host its first ever round of FIA World Rallycross Championship in 2018, after the series decided to move away from Lydden Hill.