Silverstone was just recently added to the list of circuits whose Formula One future is in doubt, as the circuit owners are set to decide whether they should initiate the break clause on their current multi-year contract. But would Silverstone really leave Formula One?
The circuit has until the 2017 event to decide whether they will break their Formula One contract and doing so would release them from the sport at the end of 2019. ITV reported that the circuit lost money from hosting the 2016 British Grand Prix, despite a large attendance. Other financial records appear to show that the British Racing Drivers Club, the owners of the circuit, continue to rake in a sizable profit each year, much of which appears to be generated from the British Grand Prix.
Given the popularity of the event, it’s difficult to believe that Silverstone would give up the British Grand Prix, especially when it would reportedly cost them millions of Pounds to terminate their contract. It seems to me that these headlines are simply a ploy to get the costs of hosting the event reduced.
The 2017 season will be the year that Liberty Media takes control of the sport, which could be the reason that Silverstone are complaining now. Liberty has a strong interest in protecting historic events, such as Silverstone, which could mean that they would be willing to reduce the fees in order to keep Silverstone in the sport.
With really good attendance at the event, it would appear that Silverstone hasn’t really been impacted by what has widely been considered to be the “boring era” of Formula One. On the other hand, many other circuits are seeing an increase in costs, but also a decrease in race attendance. This has led to many circuits claiming that they will leave the sport. It’s likely that Silverstone is using the fear of events leaving to get costs reduced.
In response to Silverstone’s complaints, Bernie Ecclestone has said that he has been on contact with a couple of circuits that would be interested in hosting the British Grand Prix. However, Silverstone is the only FIA Grade 1 circuit in Britain, which would mean that one of the FIA Grade 2 circuits would need to make the upgrades to their circuit and get re-evaluated, which would be an expensive and time-consuming process.
Donnington Park has been tipped as a potential host of the British Grand Prix and they have done so in the past. The circuit was supposed to take a 19 year deal to host the Grand Prix in 2010 and renovations were started. However, the money dried up and renovations came to a halt. The circuit entered administration, but no buyer was found. Since then the circuit has been rebuilt and hosts some racing events, although the circuit owners have made it clear that they have no intent to bid on the British Grand Prix.
Brands Hatch has also been rumored, having also previously hosted the event. However, the investment required to get Brand Hatch in shape to host Formula One would be far too great. The circuit has limited overtaking and is not safe enough to meet the FIA standards for Formula One. The paddock is also too small for F1, meaning that the circuit would need to spend a ton of money to move the paddock facilities to another location on the circuit, since there is no room to expand the existing pits.
These two circuits appear to be the most likely candidates if the British Grand Prix were to change the venue. But it’s unlikely that either of these circuits would be willing to invest the money required to get the event moved to their circuit. It seems that Bernie may just be downplaying the fear of the British Grand Prix dropping from the calendar.
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