British Grand Prix to leave Silverstone post 2019 after Formula 1 break clause triggered

The British Racing Drivers Club, who own Silverstone, have been vocal in their belief that they do not earn enough money from hosting the Grand Prix due to the high costs.

The cost in the contract rises each year and despite the deal running until 2026 the owners have decided they cannot financially justify it.

That means there is a very realistic chance that the 2019 British Grand Prix could be the last time Silverstone hosts the event.

“It is not financially viable for us to deliver the British Grand Prix under the terms of our current contract,” said John Grant, chairman of the British Racing Drivers’ Club.

“We sustained losses of £2.8m in 2015 and £4.8m in 2016, and we expect to lose a similar amount this year. We have reached the tipping point where we can no longer let our passion for the sport rule our heads. It would not only risk the very future of Silverstone and the BRDC, but also the British motorsport community that depends on us.

“However, I want to be clear that although we have now activated the break clause, we are fully supportive of the changes the Liberty team are making to improve the F1 experience. Our hope is that an agreement can still be reached, so that we can ensure a sustainable and financially viable future for the British Grand Prix at Silverstone for many years to come.”

As Grant alluded to in his statement there is a chance that the race could stay with Silverstone if a new deal can be reached.

Realistically there is a good chance that the BRDC and F1 reach an agreement within the next two years, but one alternative that has been rumoured is a potential street race in East London.

Silverstone has been the permanent host of the British Grand Prix since 1987 and hosted the first ever F1 race in 1950. Only Monza and Monaco have hosted more F1 races.