It has been more than a decade since the Formula 1 series has made an appearance on the streets of London, so there is much anticipation over the British Grand Prix this weekend.
The last time the circuit raced in London was 2004.
As could naturally be expected, the return is replete with all manner of hoopla, including features on F1 cars and some of the iconic landmarks the race will encompass, as well as interviews with drivers and team honchos.
The race proper will be held at Silverstone Raceway, but the venue has indicated that it can no longer afford to host the race beyond 2019 unless they receive a sufficiently large infusion of revenue.
Silverstone has a break clause in its agreement, and the move to exercise that clause has some, including Team Red Bull boss Christian Horner, almost at a lack for words. Not an entire lack, however, as Horner stated succinctly, “They signed a contract. They knew what they were entering and they’ve now realised they can’t afford it, despite having a full house every year. They either shouldn’t have signed it in the first place or they got their maths wrong.”
Liberty Media, F1’s new owners as of 2017, now have to deal with the possibility of staging the British Grand Prix on a street track, or find a way to mollify the Silverstone consortium of the British Racing Drivers’ Club.
The old contract had the race committed to Silverstone until 2027 and according to the contract between the parties, the BRDC had to give notice ahead of the 2017 British Grand Prix to legally invoke the clause.
Talks between BRDC and Liberty Media failed to reach any sort of compromise and any options proposed by Liberty Media were deemed insuffcinet to satisfy BRDC reservations.
There is certainly blame enough for the current predicament to be shared equally by both parties, but Horner, a member of the BRDC, says that the Silverstone management team has made some questionable calls regarding updates to the Silverstone track.
