SILVERSTONE DENY AGREEMENT HAS BEEN REACHED
Silverstone have denied reports over the future of the British Grand Prix claiming that talks are still on-going but NO new deal has been agreed as yet.
This years 2019 British Grand Prix could be the last held at Silverstone under the current agreement, unless an agreements can be ratified with Silverstone owners, the BRDC, and Formula 1 owners Liberty Media.
Silverstone have hosted the Grand Prix since as far back as the 1950's and is one of the classic and most exciting race tracks of the F1 calendar. The current contract agreed with former CEO of FOM, Bernie Ecclestone was set for a 2026 expiration date but Silverstone triggered the break clause in 2017 because of financial commitments within the contract which saw a five per cent fee escalator built into the deal meaning that what was a cost of £12m in 2010, become £17m for 2017, escalating to £27m by 2026.
Managing Director Of Motorsport Ross Brawn is in charge of the talks for a new contract and is determined in keeping the British Grand Prix in F1.