Silverstone have confirmed that talks over the future of the British Grand Prix are still ongoing, despite sources stating that the circuit has reached a ‘three-year deal’ with Formula 1.
The British Grand Prix at Silverstone will take place in its final year of their contract, after triggering a contract clause in 2017. The BRDC triggered the clause as they were struggling to affording the multiplier of fees added to their contract.
The original contract was done by former CEO of FOM, Bernie Ecclestone and was set for a 2026 expiration date. But since Silverstone triggered the clause, they have worked closely with new F1 owners Liberty Media to a new deal and continue hosting the British Grand Prix.
Silverstone hosted the first ever Formula 1 Grand Prix back in 1950 and is regarded as one of the jewels of Formula 1. The loss of such Grand Prix would be effective for both fans and the teams, with seven of the ten teams based within the United Kingdom.
On Tuesday Morning, sources indicated that Silverstone have reached an agreement to a new three-year deal to continue hosting the British Grand Prix. Motorsport Monday Journalist and Editor Joe Saward reported that a new deal has been reached that could see the race take place until the next of 2022 according to his sources.
However, despite the positive hope of the British Grand Prix being saved, Silverstone clarified the speculation and announced that no new deal has been reached and talks are still ongoing with the F1 owners.
Unfortunately there is fake news circulating this morning regarding the agreement of a new deal for the British Grand Prix at Silverstone. At this time we can confirm that we have not agreed a contract however talks are still progressing.
— Silverstone (@SilverstoneUK) April 30, 2019
“Unfortunately there is fake news circulating this morning regarding the agreement of a new deal for the British Grand Prix at Silverstone. At this time we can confirm that we have not agreed a contract however talks are still progressing.” said in a statement from Silverstone’s official twitter account.
Talks of a new contract for Silverstone have been progressing this year, with F1’s Managing Director Of Motorsport Ross Brawn determined in keeping the British Grand Prix in F1.
Brawn has also stated that he would like to see a race held within London, but only alongside Silverstone if they can get a deal.