This new deal signifies a move toward lasting stability for Britain’s position in the Formula 1 calendar, concluding a period filled with speculation.
Formula 1’s president and chief executive, Stefano Domenicali, celebrated Silverstone as a legendary track deeply embedded in the sport’s heritage, stating, Silverstone “is an iconic venue” which is “at the heart of F1 history”.
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The circuit, which hosted the inaugural F1 world championship race in 1950, continues to be a magnet for global fans thanks to its exhilarating races and exceptional off-track entertainment, according to Domenicali.
A social media video featuring British F1 drivers, George Russell and Lando Norris, initially revealed the extension agreement.
Owned by the British Racing Drivers’ Club (BRDC), Silverstone is the cornerstone of British motorsport. From 1955 to 1986, it alternated hosting the British Grand Prix with Aintree and then Brands Hatch. It has secured the event annually since 1987 and notably organised two grands prix in 2020 amid the COVID-19 crisis.
Innovatively, Silverstone was among the pioneering grand prix to enhance fan engagement by incorporating music concerts and various entertainments throughout the race weekend, aligning with F1 owner Liberty Media’s strategy to attract a broader audience.
The 2023 race, clinched by Max Verstappen, witnessed an unprecedented turnout of 480,000 spectators over the weekend, setting a new attendance record for the season across all circuits.
Liberty Media’s ambition to extend the F1 calendar, introducing races near major urban centres, challenges the continuity of several venerable and historical circuits, regardless of their legacy within the sport. For instance, the future of the renowned Spa-Francorchamps circuit in Belgium is under scrutiny due to modernisation needs, including access improvements.
The renewal of Silverstone‘s contract, previously agreed upon in 2019 for five years under critical financial stipulations, now secures its position away from immediate fiscal pressures.
Stuart Pringle, the chief executive of Silverstone, remarked: “This long-term commitment reflects the importance of the British Grand Prix to Formula 1 and their acknowledgement of our ability to deliver a world-class experience for the British fans, who are among the most enthusiastic and knowledgeable in the world.
“The cheers of support for the home teams, and particularly for the British drivers on the grid, makes the Silverstone atmosphere unique and I am looking forward to harnessing this passion for our sport and taking the event to the next level in the coming decade.”
In recent years, Silverstone has undergone significant modernisation efforts, which have seen the inauguration of both a museum and a hotel within its premises. The British Racing Drivers’ Club (BRDC) is committed to continuing the enhancement of the circuit’s facilities throughout the duration of the newly signed contract.
Peter Digby, the BRDC’s chairman, stated: “This contractual security will provide a solid base for the further development of the venue as we continue to improve and transform the circuit into a year-round international motorsport and leisure destination.”
Source
BBC Sports
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