Sunday, July 5, 2020

New contract to see Formula 1® race at Silverstone for the next five years

The Formula 1® British Grand Prix will continue to be held at Silverstone until at least the end of 2024, say Silverstone and the British Racing Drivers’ Club (BRDC). The agreement between Formula 1, the BRDC and Silverstone Circuit was signed yesterday in London, in the run up to the FORMULA 1 ROLEX BRITISH GRAND PRIX 2019 weekend.

The BRDC has been the custodian of Silverstone for 70 years – owning and operating the circuit, which is the only venue licensed to run a Grand Prix in Great Britain. The organisation has invested £50m over the last 10 years to develop Silverstone – creating a world-class venue for fans to enjoy one of the great global sporting events. This weekend’s event will attract over 340,000 spectators making it one of the best attended Grand Prix in the world.

John Grant, Chairman of the BRDC, said: “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”.

Stuart Pringle, Managing Director of Silverstone Circuits Limited, said: “The British Grand Prix at Silverstone is rightly recognised as one of the highlights of both the F1 championship and the annual British sporting calendar. This is thanks to our track being one of the greatest drivers’ circuits in the world but also the enormous passion for motor racing that exists in the loyal and knowledgeable fans that we have in this country. The prospect of not hosting a Grand Prix at Silverstone would have been devastating for everyone in the sport and I am delighted that we are here today, on the eve of what is sure to be a fantastic event, making this positive announcement about the future.”

Chase Carey, Chairman and CEO, Formula 1®, said: “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. 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.”

Silverstone continues to focus on a profitable and sustainable future with bold expansion plans already in progress. A new hotel is currently under construction at the circuit scheduled to open in time for the British Grand Prix in 2020. The 197-room Hilton Garden Inn overlooks the start/finish line, opposite the iconic Wing building and will feature a pedestrian footbridge over the circuit to link the hotel with the 4000-capacity conference venue, the largest covered conference and exhibition space between London and Birmingham. A new hotel concept, ‘The Residences at Silverstone’, 60 luxury residences for short term rental, with spectacular views of the track, and a private clubhouse is also in the pipeline.

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