Silverstone stays: New five year deal with F1

Silverstone, UK

British Grand Prix – Silverstone will stay on the Formula 1 calendar in 2020, with a contract extension announced at a press conference on Wednesday afternoon.

With Silverstone’s deal expiring after the British Grand Prix this year, there has been much speculation that the historic venue may fall by the wayside for the future as new venues come onboard.

However, speculation regarding the future home of the British Grand Prix ended on Wednesday with a press conference held at Silverstone featuring Formula 1 CEO Chase Carey, Silverstone Managing Director Stuart Cringle and the BRDC’s John Grant.

Carey confirmed that Formula 1 will remain at Silverstone until, at least, 2024, as a new five year deal has been signed to keep racing there. The deal was signed off on Tuesday at a meeting in London.

“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.”

Having held the very first Formula 1 Grand Prix as part of the official championship back in 1950, Silverstone has become an iconic venue for the sport. While it had to alternate with Aintree from the late 1950s and, later, Brands Hatch, Silverstone took over the British Grand Prix completely in 1987 and hasn’t missed a year since.

The BRDC’s John Grant said an F1 calendar without the venue would have been disastrous: “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”.

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Thomas Maher

Co-owner, Chief Editor and a journalist for FormulaSpy.com - Ireland's only accredited F1 & Formula E website. Also working in the Irish radio broadcasting industry. Donations: PayPal - paypal.me/thomasmaheronf1 ETH/ERC20 - 0x9d0b8071180AAcB0bD5f0c1d43281768C73e8763

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