The British Grand Prix at the Silverstone Circuit will stay onto the Formula 1 calendar in the near future, after agreeing to a new contract that will last until the end of 2024.
Silverstone will host an F1 race for the next five years after the BRDC and F1’s owners Liberty Media have struck a deal to keep the Grand Prix at the historic venue. Silverstone hosted the very first Formula 1 World Championship event in 1950 and has been the home to British Motorsport ever since.
The five-year agreement was signed on Tuesday in London ahead of the 2019 British Grand Prix this weekend. 2019 was the last year of Silverstone’s current contract in F1 after in 2017, the BRDC triggered a clause in their contract that would end hosting the Grand Prix in 2019. The previous deal was done under the control of Bernie Ecclestone.
Now with a new contract in place with Liberty Media and for the future of Formula 1, F1’s CEO and Chairman Chase Carey says keeping Silverstone in F1 is an example of the sport aiming to preserve historic venues onto the calendar.
“We are really pleased to confirm that the British Grand Prix will stay on the FIA Formula 1 World Championship calendar for at least the next five years, with the event remaining at its longstanding home, Silverstone circuit,” said Carey.
“We have always said that, if it is to have a long-term future, our sport must preserve its historic venues and Silverstone and Great Britain represent the cradle of this sport, its starting point back in 1950.
“Today, Formula 1 is a global sport, held on five continents, watched by an audience of over 500 million fans around the world and our aim is to grow this number by bringing the sport we love to new countries, while also maintaining its roots: Silverstone and the British Grand Prix are an integral part of that vision.”
The British Grand Prix is often marked as a key event in the British summer and on the sporting calendar, often turning in big crowds over the weekend to watch Formula 1, FIA Formula 2, FIA Formula 3 and other support races.
There were concerns over the future of the British Grand Prix as Liberty Media stated they’ll have 21 races on the 2020 Calendar, with the introduction of the Vietnam Grand Prix and the return of Zandvoort for the Dutch Grand Prix, meant that two races would face the cut.
But with the new deal in place, John Grant, the Chairman of the BRDC, says the new deal marks great news for the British fans, Formula 1 and for the British Grand Prix as 2020 will mark the 70th anniversary of the sport’s formation at Silverstone.
“Silverstone is one of the most iconic Grands Prix on the F1 calendar and with such a rich heritage it would have been disastrous for the sport and fans had we not managed to find a way forward,”
“2020 will be the 70th anniversary of the first round of the World Championship which took place at Silverstone on 13th May 1950 and will make next year’s event all the more special. This is great news for the BRDC, Silverstone and Formula 1 – and for millions of British motor racing fans.”