A letter from the BRDC Chairman suggests that Silverstone could terminate their contract early in hosting the British Grand Prix.
Every year there are rumours that the British Grand Prix is under threat and it’s only taken five days in 2017 for it to happen again.
According to a leaked letter by ITV, the BRDC Chairman claims it’s too risky to continue hosting Formula 1 as, like all European circuits, they fail to make a profit. This is despite attracting 140,000 fans on race day and repeatedly selling out the stands at the British Grand Prix.
“It is widely recognised that no European circuit makes money from running a Grand Prix,” he wrote in the letter seen by ITV. “We believe Silverstone does better than most, regularly attracting a large and enthusiastic crowd and putting on as good a show as we are allowed to do.
“Even in a good year, the BGP does not generate enough cash to cover its share of the site overheads, our major concern has always been the risk of a bad year.
“The board is considering whether we should exercise the break clause in the BGP contract at the end of 2019. This is not a simple decision and we will consider fully the implications before coming to a conclusion by mid-year [2017].”
Silverstone had signed a 17-year contract back in 2009 to host the British Grand Prix until 2026.
If they do terminate their contract early, no other British circuit is currently eligible to host an F1 race, which would leave the country without an F1 race for the first time since the world championship began in 1950.